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Technology Stocks : Micron Only Forum

MU 237.16

+4.6%

3:59 PM EST

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To: John Graybill who wrote (31281)	3/26/1998 9:09:00 AM
From: Thomas G. Busillo	Read Replies (1) of 53903

John, I'm equally skeptical. I'm mystified how any fund manager would want to load up right now and part of the slow descent is probably a lot of guys sitting around hoping for some kind of bounce before they close the books, getting it, then selling into it. IMHO, it's going to be tough for anything remotely resembling a sustainable run to develop until after the end of the month. I've avoided putting money in funds I saw holding MU in the past. I'd do it again, as I think it's an excellent way to separate the cowboys from the serious bottom-up stock pickers given my long-term tolerance for risk. Also, yesterday's action was probably tied to strength in the $SOX on the set-top box deal for MOT and the new Goldman guy starting some of the gear players. I sort of read the chart as "hitting the upper channel drawn from the high of the EPS release" (chosing to ignore the pre-earnings shennanigans <g>) and "monthly downtrend + weekly downtrend + daily up = sell territory". We'll see. Good trading, Tom

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