I posted this chart of Intel last week with the explicit buy recommendation. The stock closed at 41 the previous day. In the remainder of the week it rallied 18% to over $50. Call Options were reasonably priced as I also pointed out. A great win in a tough, very news driven overall trading environment.  

I also mentioned the markets showed some signs of carving out a bottom, and that I slightly favored an intermediate low had been made. While the charts may still lean that direction, obviously the context of everything is still geopolitical. And the latter news will overshadow any chart for the time being. 

With regard to the latter, it certainly does not appear that the news is about to conform to the charts. Hard to be encouraged. Obviously anything can change on a moment’s notice, but I am a ways away from thinking about getting long, despite last week’s small dalliance in Intel. 

So we sit and wait. Good Luck to everyone. 

Thanks,

Joe

PS–Here is the advice I would give my own family about trading this market.