Yesterday we wrote this concerning Intel Corp. (Ticker: INTC), “If the market stays stable, at the SMC we are going to buy INTC here in the low to mid 20’s and own them for a while. You heard it here first – INTC is a value play.  We simply need to see how the market responds to these numbers yet.”

Well – you can see today why we did not blindly say, “INTC is a buy here and we are going to get in at the market open at whatever price the market offers.”  That would not be wise.  INTC dropped over -5% from the price offered at the open, but still closed positive for the day.  This market is extremely selective and prone to profit taking on almost every advance.  We like very much INTC’s results and their future prospects, but it doesn’t do us any good unless the background market is supportive of this idea and unless investors step-up to buy the stock and not sell it.

We’ve experienced on many occasions excellent companies posting excellent results and expectations for future growth, and then having to wait 3 – 6 months for the market to be agreeable enough to warrant investment.  We’ll just have to see with INTC.  There were some significant bottom-fishers in at $19/share who gladly took their profits today.  Institutions and large funds may be waiting for them to get out of the way before initiating their positions.  Things can change quickly.

ARNA was up today and is up some more in the after hours +6% as they announced that they will publish their favorable results from their “Bloom” study.  Today’s “pre-report” looks very good.  We are glad to be in this one.

YRC Worldwide sold down to around 0.20/share.  For those who have chosen to be involved with this one, be sure to have a stop in place to protect yourselves.

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Please remember – at the Stock Market Companion we do not and cannot give individual investment advice. According to the State of Washington RCW 21.20.005 the Stock Market Companion is not a Registered Financial Advisor and we do not render any advice on the basis of the specific investment situation of a particular individual. This information is for a wide readership and is not intended for any particular individual,  and under no circumstances should our SMC Intraday Update, SMC 15MinuteStocks Market Update or Watchlist be considered an investment recommendation or plan for any specific individual.  By accessing this material, you agree that the Stock Market Companion will not be held liable for any actions taken by a subscriber or other parties.  Please seek the council of a broker or other licensed investment professional for accurate pricing and concerning the suitability of all investments that you may be considering. Disclosure : Please understand that the Stock Market Companion may hold positions in the above mentioned securities.  Based on market related or personal events these positions may change without notice.

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