Donald, PLEASE be a regular <g> I haven't read through any other responses, but I'm with you on the TA.
MU was at 60 prior to whatever spooked TK and the other analysts who revised their numbers downward, so you have to figure that part of the recent weakness is tied to lowering estimates and then maybe some expectations that not enough analysts lowered their numbers enough, so maybe there's the potential for a miss.
If Maria B. mentioned .40 (didn't hear it myself, but that's what's been on the thread), I'm assuming that's the "whisper number" - but that's my only data point on it.
From an FA POV - I'm still bearish, but as someone who's eyeing this up as a trade, for my style, my next entry most likely won't be short (unless I stay flat and short whatever "relief rally" comes out of the earnings followed by their presentation at the Montgomery conf. on Wed.).
I like using 21-day B-Bands. So far, Mu's been riding the lower band down. I figure it will either totally tank on the earnings and then recover to close to the 21-day SMA whenever it stops riding, or bounce outright intraday Tuesday, pick up on their usual conference spiel, and then when the 10-K hits, maybe that's when it gets baked.
Don't know. I tried shorting MU's earnings via TXN common (two-for-one splits have a tendency to delay any expected profit-taking <g>), so part of me almost wants to try to pair a long position in MU, despite my FA bearishness.
Good trading,
Tom |
