Larry and David, here is my read on the possible MU pattern
for the next few days:
We continue in the upward channel from the low of 22 in Dec.
The upper and lower limits, as I see them, is about 36 and 31
for today. I am biased on the upside, but presently have shorts,
and see MU declining no lower than the support at about 33 5/8,
which happens to be about the middle of the upper channel.
I was expecting MU to be at about the 35 strike in Feb, and 40-45
strike in March. I also then expect about a 20% downward
correction as has happened for the past few years. I have the
exact data in one of the computers, and will post it later in
Feb and/or early March.
I imagine that many on this thread thought that I was crazy
when I posted in Aug through Dec, that past MU patterns
for 12 years, has averaged an increase of over 100% from
the calendar 4th qtr to the 1st qtr high, regardless of fundamentals.
That average increase would take MU to 44+. Well, folks,
MU has now gone up 62% (@35.75). MU is a lot closer
to 50 than 10, but there was some rough language in Dec
over such crazy level.
It is sad to see some losing money, still believing that MU
is going to 10, or talking a lot and not even trading, while
some of us silly TA types keep profiting by going with the
flow.
Just food for thought.
By the way, I jumped the gun by selling at the close yesterday,
as my computer hadn't given a sell signal yet. It is still
indicating overbought, but an actual sell signal probably won't
come until late today or tomorrow morning. Since one of the
factors in stochastics is a moving average, it doesn't catch the
exact top or bottom.
Patrick |
