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Technology Stocks : Micron Only Forum

MU 201.37

-10.9%

Nov 20 3:59 PM EST

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To: S. M. SAIFEE who wrote (49438)	10/20/1999 1:52:00 PM
From: John Graybill	Read Replies (1) of 53903

I think we're about done for the upside the day. Check out MU and compare it to the rest of the market in the past half hour, and especially the last ten minutes. They marched it up to 64 and ran all the buy orders but didn't go any further. That looks to me like they knew there were a lot of sell orders there and they weren't ready to go down. So they waited to see if there was a 1:30 buy program in the works to help them out. There was, and was a furious one for a couple of minutes, but look at how little difference it made to MU compared to DJII, SPX, etc. Now everybody's dropping, and MU has broken that hard line that it made from 12:25 to 13:30. It's already starting to look like yesterday's turn at 65. ------------- IBM earnings after the close, and presumably their happy talk yesterday of doing more sales on the internet is already factored in to the price.

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