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Technology Stocks : Micron Only Forum

MU 241.14

-6.7%

Dec 12 9:30 AM EST

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To: TREND1 who wrote (24999)	12/10/1997 4:41:00 PM
From: DavidG	of 53903

Larry, << I dare you to go to my web site and look at the lastest daily channel of MU It starts at 60 1/8 ..................................... Look at today's action ! Tell me if you have the "nerve" to go long after looking at that chart ! >> <ggg> Quite frankly I do not know how to use the channel charts to identify support and resistance points for trading. I believe it is a great visual aid for me to use for trends as does point and figure and candlestick. I just can't see any predictive behavior over and above trend. Maybe you can help me out... would not want to miss out on learning something. With the channel starting out at 60 in August and 30 mid nov MU should hit "0" by Feb or March. I see a support and possible reversal at 22 if MU earnings and conference call does not upset too much. Very short term the 22 to 25 will be a narrow trading range until earnings. I will buy 22 to 23... if it breaks 22 I will cut my losses and buy PUTS as you suggest. This works for me...but maybe not good for others.<g> Thanks for info DavidG

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