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I was already short Intel (INTC), based on the very long-term descending trendline marking out a series of lower highs (and the recognition of the fact that Intel is a has-been that peaked a quarter century ago that is only being propped up at the moment by the swine in D.C.):
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It appears to have tagged resistance last Wednesday, and today we’ve got a bearish engulfing pattern. I’ve tightened up my stop on this and am ready for a longer ride ahead.
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