Updated: Names We Recommended Buying, What to Do Now?

Update to Thursdays Dec 1st recommendations for CAT & Intc:

Back on Nov 4th we told readers to hold off before getting long the following names.   We gave levels that we would be interested in getting long. Today we have updated our levels for those of you who are not members of www.thechartlab.com.  Currently, none of these names are a buy or a sell (yet). All 5 names have intermediate to longer term charts we like and would get long on the recommended pull back prices.

CAT- CATERPILLAR INC. � Daily

Near Term Trend (Daily): Positive

Friday�s Close: $96.295 (-$.53 cents)

UPDATE: Over three weeks ago, on the �Closing Bell� segment on CNBC we recommended going long CAT on a dip around the $92.00 region.

Two days after the live segment, CAT dipped to our level and then proceeded to trade as high as $98.20. Following that 7 percent move, we highlighted, ten days ago, our defined resistance (blue horizontal) line, which continues to hold resistance in text book fashion.

We took 50% profits on the first move toward $98.00, book the remaining profits at these levels.

INTC � INTEL CORPORATION � DAILY

Near Term Trend (Daily): Positive

Friday�s Close: $26.64 (-.28 cents)

UPDATE: Seven weeks ago INTEL pulled back to $20.40, and we recommended traders should be long based on that level. Four weeks ago we stated, �At this juncture, we are up 25% on this position. I would book 50% profits, and stay long the remaining 50%�. We sold half (50%) the position at $24.57. Remain long the balance � however, I�m concerned that some additional backing and filling is required before the market can fully break- out to the upside.

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