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Technology Stocks : Micron Only Forum

MU 237.16

+4.6%

Dec 5 9:30 AM EST

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To: DJBEINO who wrote (47719)	8/18/1999 4:58:00 PM
From: John Graybill	Read Replies (2) of 53903

That explains the nearly gap-up open -- after a nudge to Maria on CNBC to shout "somebody's selling in size!" at the top of her lungs minutes before the open, which gave us a bona fide gap (down). Gotta hand it to Them, that was a textbook multi-media 90's style screwing. Kids, your mama is right: this is just one example of what can happen if you spend too much time in front of the TV and not enough time reading. "Test of the 50 DMA" today? Huh? That's at 52 or thereabouts -- the 20-day is the interesting one now, IMO. It was 58 or so as of yesterday's close, cutting right through the middle of yesterday's bar. Uh oh! No chance of having much of today's bar below it, though. We were below it for about, what, three minutes at the open. They sure wanted 59 badly today. Some goons were ready to buy anything available as soon as the bid dropped below 58 7/8, all day long. Maybe it will become clear in a couple of days why 59 +/- was so important so early. The usual final-week option shenanigans? Maybe They just wanted it up early and all day long to transfer the two million shares unloaded on them at 55-57 over a thirty-minute period yesterday. Gonna try to pick up some more Oct 55 puts tomorrow in anticipation of selling some Sep 50's against them on any pre-expiration drop.

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