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Technology Stocks : Micron Only Forum

MU 243.32

+2.6%

12:12 PM EST

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To: johnlea who wrote (30942)	3/20/1998 4:38:00 PM
From: Herschel Rubin	Read Replies (2) of 53903

I see the divergence (S&P 500/DOW up, NASDAQ down) as a sector rotation while the techs work out their inventory problems in Q1 and Q2. A rise accompanied by sector rotation is viewed as healthy in the long run. Does anybody have a clear understanding of the "post-triple witching" trading behavior of the markets (e.g. next Monday)?? WHat typically happens the next trading day after a huge upside on triple witching day? Today's triple witching brought the DOW up 103 points on heavy (716 million shares) volume. Were hedge funds closing out short positions? And if so, is this a further bullish indicator? Or will Monday correct the "excesses" of today and bring the DOW down and perhaps the Nasdaq up? And, I can't help but wonder if large traders who had hedged with some put options on some of the large tech stocks (e.g. Micron, Compaq, Dell) had a vested interest in keeping these issues down until expiration of the options they held, then they will bounce back Monday following options expirations today. I'm sure somebody out there has contemplated these thoughts (and may have logical ideas in response to these thoughts... Herschel

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