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Technology Stocks : Micron Only Forum

MU 362.75

+7.8%

Jan 16 9:30 AM EST

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To: DavidG who wrote (31390)	3/29/1998 2:03:00 PM
From: John Graybill	Read Replies (1) of 53903

I'm ok with my short. I entered on Feb 6 on the Brown Brothers downgrade. That told me that the scheme to run MU stock up through that period was officially unsustainable, if not over. I'm no earnings expert, heck I disqualified myself and assumed the scorekeeper role. The only times I've made money on MU is when I either ignored or acted in opposition to the fundamentals, or in opposition to the prevailing analyst sentiment. But I missed the Dec/Jan scam move which met both of those requirements, and I'll be kicking myself in the head for that for the rest of my life. The fundamentals support a continuing short position, but the enormity and transparency of the Dec/Jan scam move was so overwhelming that THAT in my mind is the overriding factor in MU's stock price in the short and medium term. Big Money is spending way too much time here at 29, as if that one-day peak at 29 1/2 on the way down back in November was some kind of edict from heaven that must become long-term support. It's way out of proportion to its importance on the chart, making it much tougher resistance on the way up that it would have been as a result of this short-term stunt.

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