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Technology Stocks : Micron Only Forum

MU 241.14

-6.7%

Dec 12 9:30 AM EST

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To: Skeeter Bug who wrote (23737)	11/10/1997 9:24:00 AM
From: DavidG	Read Replies (2) of 53903

Skeeter, << when mu was $38 on the way down you said $36 was a strong floor.>> I did not say strong floor...maybe someone else. 36 was only a support level not a strong floor....and it was taken out when they announced a bad quarterly earnings report( and MU deserved it too). IMO the only strong floor for any stock MIGHT be their book value. But EVEN that depends on the company and the business sector for that company...which right now is horrible at best for DRAM. Right now all that can be said about MU is that it is a great company in a horrible sector. Therefore it suffers as its commodity product suffers. The positive of MU is that other companies are feeling the pressure all the more and are starting to drop out of the business. If and when the DRAM business picks up MU will take off...then you will see the overhead resistance levels get taken out just as easily as the support levels were taken out. Good LUCK Trading DavidG PS: Was not a good day for NEW YORK. C'mon JETS and GIANTS

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