David, in defense of the "Forever Bears" (I'm a temporary "Forever Bear", while I own a small January '99 position in puts and a small April position): I don't think they think MU follows fundamentals at all in the short term, so movements like this one wouldn't be too surprising to them. A scenario I think is likely (and the one that I hope is coming) is that we have a slow burn in the stock, with some upticks along the way. That could totally be crap, and I wouldn't be surprised whatsoever if the stock goes up to 50 for no good reason whatsoever. So much depends on other factors: the semiconductors in general, other tech stocks like MSFT, interest rates, conditions in Korea and Japan, IMF, etc., that no one really knows whats going to happen from month to month from either a technical or fundamental perspective. It seems likely to me that MU is going to have significant fundamental problems, but I'm no expert. In this stock, minute to minute is easier than day to day, which is easier than week to week, etc.
However, here's a quote from one DavidG:<< I agree. 32 3/4 to 33 is a resistance band. I don't believe MU will go over 33. >> You were wrong, but of course wrong and long so you made some good money. (A pyrrhic victory, if you're worried about your rep. as a forecaster and not your bank account.) |
