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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?
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To: Proud_Infidel who wrote (2868)1/3/1998 3:02:00 PM
From: Zeev Hed  Read Replies (3) of 4697
 
Brian, not exactly, I think that there are two fundamentals forces at play with MU (and WFR as well), the oversupply of production capacity and thus the inability for leaders to price their products profitably and the possible contraction in this supply which will leave the survivors with better profit margins. I think that MU is emerging from this battle as a survivor, the lowest cost producer andd having the largest market share, this is a very strong fundamental reason why one should get interested again in MU. On the other hand, until the excess capacity is either absorbed by the market or closed out, MU may still suffer from these effect and could still go to about half its current value. Not knowing what is going to be the actual timing of these events is what brings me to look at the technical behavior of the stock I am interested in, and since a breakout above 28 will indicate to me a paucity of sellers and an abundance of buyers, all of which know much better than I the details of the timing of the general scenario I am assuming to be operative for MU. There is simply no way for me to actually know at this time what is actually going on in the field of DRAM's and the boardrooms of the various participants, and thus I let the market tell me.

Zeev
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