DavidG & Larry only - Trading patterns for the next few days, and
a guess on the next 12 weeks.
Yesterday, at the end of the day, I got sell signals (stochastics) on
most of 20 tech stocks I follow. I have been short in MU for
several days, and bought puts in CPQ and CSCO early this morning.
I am also watching the SOX 1 day and 10 day charts very closely,
as an indicator of the group.
I expect to turn back to the upside by late tomorrow, or Thursday
morning, based on the stochastic charts.
I also see MU having strong support at 25 if it should get that low.
For the next 12 weeks, I am biased on the upside, based on the
trading patterns over the past 12 years for tech stocks, and MU
specifically, regardless of earnings.
Questions:
1. Opinion of the time or cause for turn around to the upside.
2. Opinion of tech stock movements over the next 12 wks.
3. Opinion of MU over the next 12 wks.
4. Opinion on MU support level at 25?
Patrick
PS: DG and Kerry - good trades on the puts for you. Kerry, don't
hold them too long. |
