It is mind-blowing to see INTC price actions during the last few days after a downgrade from BOA. It is like falling off from a cliff. Do you remember pics which I posted during the last week of Dec? When I am looking at INTC, it looks like a total flush, cleaning out.
It did react to earning news, I think that it was, in Jan 2006 similar as what we see now. It almost looks like a bad earning news is already priced in; even though there is no guarantee that it will not break the current support. The current level near at 22.50 +/- is meeting price objective breaking the 26.50 support.
I am seeing Cramer is recommending HPQ today on his "Stop Trading". I think that the earning report from HPQ would be good.
For AMD, it is a nightmare, bitter fall off from 40+ level and market is continuing to punish the company as it is trading near at 6 now.
For HPQ, it certainly traded strong; however, the recent sell-off is ugly like a fallen angel sent to hell. It certainly looks like it has put the top at 53 which will not be able to break above anytime soon. HPQ bounced off from 44.20 support today after trading 16% pull back range within a week.
INTC needs "TLC". Need to put some bandage on.
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