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Technology Stocks : Micron Only Forum

MU 241.15

-4.7%

Nov 11 3:59 PM EST

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To: John Graybill who wrote (48415)	9/19/1999 10:45:00 PM
From: Land_Lubber	Read Replies (2) of 53903

John, I agree with your conclusion that we will see a sharp decline in MU right after earnings. But I believe that this will be in spite of "good" earnings, between positive 0.01 and 0.05 per share, beating consensus. Now is the time to "buy the rumour." After earnings a lot of money will be "selling the news." Note also that a bear trap at that time fits very nicely into a "Graybill Boomerang" set-up. Note that the third Friday is hardly more than two weeks into October this year. For what it's worth (not much), I explain Friday as an opportunistic grab of MU by call writers to "pin" the expiry at the max-pain point. I don't think that they would have even tried to do it if the tech stocks hadn't swooned on Thursday morning in coincidence with what should have been a minor retracement for MU. Of course, this could easily be "wishful" thinking on my part, since I have a vested interest in MU being up sharply on Monday to make up for lost time. Also, when drawing your trend line of peaks from May, be sure to use a semi-log chart. This is important in this case. Land_Lubber

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