Intellageddon on deck

Intel investors should take note of an extremely bearish chart setup now unfolding.  In short, the shares peaked in April last year and then got creamed into November 2012.  That was 5 waves down into "blue 1" shown on the chart below.  Then a clear A-B-C retracement to the 61.8% fib followed by a nasty double top that looks like a Batman cowl.  It is now finishing what I believe to be 1 of 3 which will likely bounce at the 38.2 % fib as shown below before breaking down with gusto as shown.  The 3rd wave down will reach a much lower low than the Blue 1 wave.  This is a good time for gamblers to be researching short term puts IMO.  Wait until the small 2nd wave transpires and then buy a few hundred bucks worth for asymmetrical gains.  The confirmation will be the breakdown below the 38.2 fib.

Needless to say, I do not expect Intel shares to collapse in a vacuum....