Yep, we have the analyst conference to get through,
that's one thing.
Another reason is that these guys were SO far off (not
even in the ballpark, really), that they need a little
extra time to come up with a "sell all Micron now!" that
has at least an iota of correspondence with their current
public statements. They have to do some pretty fine
reading of their previous statements to be able to point
to something and be able to say, "Aha, we said something
more or less like that a year ago, yep!" to justify their
downgrade. Of course, if their public statements truly
represent their position (yeah right), then they have
some MU to unload before they drop the bomb.
Option expiration is a factor, too, but I said a few days
ago that anybody writing options on MU has had plenty of
time to buy them back, heck they've had multiple chances.
But they've done that before, back in May 1995 I think
was about a 3-point down day after expiration on some
hideous news that they held over the weekend.
BUT!
With this S&P caution today, man just get out of the way!
That changes things! They're gonna be tripping all over
themselves tomorrow and Friday getting those downgrades
out. Being on record as being hopelessly wrong compared
to the SI gang is one thing, but no way to they want
people asking a lot of questions about S&P downgrades.
We're gonna see a couple of 10M days before March 31. |
