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Technology Stocks : Micron Only Forum

MU 362.76

+7.8%

Jan 16 3:59 PM EST

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To: John Graybill who wrote (46442)	6/21/1999 5:09:00 PM
From: John Graybill	Read Replies (1) of 53903

MUEI up another point today -- it gapped up with everything else, then traded in a 1/4-point range for no less than five hours. So MUEI stock somehow became 10% more valuable over the weekend, reaching a price at which every player in the market was in total agreement. Nothing funny there, eh? Looks like They needed to kill all of Wednesday's shorts in both MU and MUEI. This is why I like option spreads or at least "legging into" one rather than "naked" options. My long put has been chopped, but my short one has been as well. Now the disastrous earnings report (oops, not so disastrous any more because the estimates are collapsing even faster than the price of spot market DRAM) can be safely released.

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