UPDATE: A breakout in this cheap, forgotten stock is powering the Dow Jones Industrial Average
By Nigam Arora
Money managers have deployed new cash in a dinosaur that had been left for dead
At the end of September, we shared with subscribers of The Arora Report our forecast that the stock market would rise at the beginning of October.
The forecast has proven to be correct, yet it wasn't rocket science. It was based on a simple observation that new money pours into Wall Street at the beginning of a quarter from pension funds.
And it turns out that money managers have deployed the new money in a dinosaur that had been left for dead. The dinosaur is chipmaker Intel (INTC). It turns out that the breakout in Intel's stock is powering the Dow Jones Industrial Average . Let's explore that investment starting with a chart.
Please click here (https://thearorareport.com/chart-intel-stock-breakout-10032017) for a larger annotated chart of Intel's stock. Please note the following from the chart:
-- This is a weekly chart and, thus, is of more value in analyzing a breakout.