--Greg
Going into earning two weeks from now, I do anticipate further upside, though the actual statistical probability of further upside as of today's close is less than 5%. Today's price movement was significant, just above 1 standard deviation greater than the daily average price change for the past month, but today's volume, slightly below the average volume for the past month, was not significant. As for any split, I seem to be alone in believing that two nickels have the same value as one dime, so the simpletons who believe 1000 shares of a $60 stock are worth more than 500 shares of a $120 stock, will probably push MU up further.
I also anticipate that earnings may come in below $.80/share, a run-rate that makes $130 a little insupportable without an increase in DRAM prices. Except for a few days a week or so ago, DRAM has done nothing but go down. A post-earnings, sell-on-news sell-off seems to me highly likely.
Best
--Steve |
