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Technology Stocks : Micron Only Forum

MU 399.63

+0.5%

Jan 23 9:30 AM EST

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To: TREND1 who wrote (27503)	1/31/1998 8:51:00 PM
From: Richard Russell	Read Replies (1) of 53903

Larry, I understand you are short mu now. I looked at your upward channel graph and the bottom of the channel is a little over 31. Here is alittle something they may or may not interest you or others. I went back through the charts and plotted the movement of the upward trend starting when it bottomed out in 96. 7/23/96 $17 to 8/7 $26 =+9 8/7 $26 to 9/5 $20.5=-5.5 9/6 $21 to 10/14 $33=+12 10/14 $33 to 10/31 $25=-8 10/31 $25 to 12/12 $36=+11 12/12 $36 to 12/30 $29=-7 12/30 $29 to 3/14 $44=+15 3/14 $44 to 4/28 $33.5=-10.5 5/19 $35 to 6/2 $43=+8 6/2 $43 to 6/12-7/3 $40=-3 7/3 $40 to 7/16 $48=+8 7/16 $48 to 7/28 $45=-3 Final big push up last summer 7/28/97 $45 t0 8/6 $58=+13 Or for a bigger picture 5/13 $35 to 8/6 $58=+23 8/6 $58 to 11/12 $23=-35 When mu plummeted from 58 and the bears where joyously posting on this thread I remember you admonishing them by asking the question if mu can go straight down forever, at the time it seemed like it might. Well now that mu is uptrending I asked myself that same question. Will mu keep going up forever? I know we are looking out the rear view window now but it seems that in the last uptrending movement for every sustained movement up there was an average of an approx. 50% retracement before the next leg up with the shortest length of time up being about 2 weeks and the longest be 10 weeks. We have now been in a sustained uptrend for 7 weeks with a gain of about 12.5. Could we soon be in for a 50% retracement before continuing the uptrend? Will we see 26-29 before earnings? Something to think about. RR

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