RtS, Good article. Boxer, like many others are looking forward to the action next week. Now that the downward momentum has built up over the past 5 weeks, more is expected before the all elusive "bottom".
If MU falls below 16.39, you have to go all the way back to the summer and early fall of 1998 to find a lower low. More specifically, to 10/16/98 when it closed at 16.00.
MU has really been taking it in the "shorts" recently.<g> In the SOX table, sorted by PEG, MU easily occupies first place with a PEG of 0.56. As the table shows, MU was down 16 percent this week. Every analyst is "piling on" to lower estimates. Even with all the lowering estimates, First Call has next year earnings pegged at 1.67 per share. To pick a contrary example, BRCM is pegged to make 0.52 per share next year, but was only down 3 percent for the week. Oh yes, and it has a PEG of 0.91.
The "fire sale" appears to be on. Not much discrimination on what to sell - the name of the game is to sell before it goes even lower.
Don |
