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Strategies & Market Trends : Don't Drink the Kool-Aid Kids
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To: Stoctrash who wrote (219)3/30/2001 1:28:47 PM
From: John Pitera  Read Replies (1) of 1063
 
Those genome stocks were great shorts back at the 200 DMA N'est Pas.

speaking of MU check out these valuation comments made today on the RealMoney Trader Track:

MU
3/30/01 12:30 PM ET
$34 would be tempting. Very tempting. I'm not that greedy. After all, the expected return on any short is negative -- since on average, over average holding periods, stocks go up. On average. Not that I know any average stocks. (Short MU)

Tony Dwyer
MU
3/30/01 12:25 PM ET
Sure Dave. Stock (Micron(MU:NYSE)) has been bottoming for a long time and that doesn't appear to be changing. That said, a close below $40 could bring it to $34.

Dave Nadig
MU
3/30/01 12:19 PM ET
Still short the Micronator (MU:NYSE) and not sitting here on the trigger either. I know it's sacrilege for a tech manager to mention the V word (Value), but Micron is just monstrously overvalued for a tech commodity company. I am not looking for $39.33 or some little price point. I'm looking for a basic compression of its PE down to, say 20 on a forward basis or 7 or 8 on a trailing one, making this a $10 stock.

Can I get shaken out? Of course. I'm human after all, but my funds have SO MUCH long tech exposure already, it's nice to have a stock like this short. You have a technical call on it Tony? (Short MU)
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