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Technology Stocks : Micron Only Forum

MU 207.36

+3.0%

Nov 21 9:30 AM EST

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To: TREND1 who wrote (49480)	10/21/1999 7:12:00 PM
From: John Graybill	Read Replies (1) of 53903

Greenspan was yapping at some banker's lunch or something like that and goosed the market again. I can't find any stories in the usual sources that mention it, but this flashed on CNBC at the time. "News Flash: Fed Will Not Use Monetary Policy To Target Asset Prices" or something like that. I believe the interpretation is "the Fed isn't going to try to force the stock market down". BANG! All the indexes started rising immediately, and I mean within seconds. Note that DJII had been below 10200 for like 15 minutes at the time. Horrors! As regards MU, 68 to close the gap before the tout-fest is now a chip-shot, and, IMO, a foregone conclusion. Now They might even go for 70, just to squeeze everybody who shorts at 68 when they fill that gap.

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