Larry, big time trades being made in the past 5 minutes! Feel sorry for the shorts and puts.
Larry, on Aug 16th, when MU closed at 42 5/8, I wrote the following
post to you, that based on the average of past MU trading pattern history,
MU would have a low of 21.9 in the calendar 4th qtr, then climb over
100% if it repeated the past. MU bottomed at 22. MU today, at 31'13
put it 44.6% above the 22 low.
Message 1985839
Sorry about all those out-of-the-money puts that will expire
worthless, but we let emotions control our trading too often.
I let that happen the days before the earnings report, because we all
knew that it would be lousy. I owned 50 Dec 25 puts, and lost
about $8000 because of the fundamentals affecting my trading.
The computer was not telling me to go short or buy puts, but,
logically, it should have gone down, right? Logic and fundamentals
cost me. I went back to the drawing board and the computer, and
the past 12 or 13 year trading history. That is why I am biased to the
upside now, regardless of what the bears say. Their comments are
based on logic and fundamentals, and I repeat for the umpteenth time,
MU doesn't trade on logic and fundamentals! <gg>
IF, if, if, MU follows the average trading pattern as in the past, I
would expect MU to go up to at least 40 by March, and possibly as
high as 50.
I know that MU will report a loss in March, but I can see the
forecast now, of how great things WILL be in the future. Kurlack
and others will be touting MU, etc., and has started with Abby.
Isn't it interesting how many upgrades and touts MU had when it
was above 40, then downgrades AFTER the stock was back down
below 30?
Real short term, MU may settle back to the 30 strike. That was my
target for Friday, and when it reached it today, I sold my calls. I
have no problem with leaving money on the table, as long as I got
my target.
Patrick
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