The big event this afternoon is going to be Intel. It was only a year ago that Intel was a pathetic, failing piece of dog crap. In the midst of the most laughable bull market in history, it has lost two-thirds of its value and was considered irrelevant.
For some reason – – I shan’t speculate on what, since it’ll probably trigger some he-man folks here – – the administration decided to go Full French Socialism and bail out Intel and loan them ungodly amounts of money.
Added to which, Howard Lutnick (who totally didn’t know anything about 9/11 in advance, honest) has been urging companies to work with Intel if they know what’s good for them. Thus, Intel went from zero to hero and is up hundreds and hundreds of percent in the past year.
I have no position in Intel, and no strong disposition regarding if it’ll go up or down. Of course, given my deep resentment of the cronyism and socialism surrounding Intel’s state-funded “success”, I hope they get killed, but I’m not counting on it.
Of course, if INTC does take a hit, that’ll do good things for my SMH puts, which are delicately positioned between glorious success and dismal failure.
