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Technology Stocks : Micron Only Forum

MU 365.62

+0.8%

3:02 PM EST

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To: yard_man who wrote (31443)	3/31/1998 10:00:00 AM
From: John Graybill	Read Replies (1) of 53903

Patience, patience, Boo-Boo! MU price for the short-term is totally controlled by Larry's down-channel and the 20- and 50-DMA. The 20-DMA is dropping at about 33c per day, and MU is well below it, so there is a little room for it to "pop" for no reason whatsoever (except to scare some shorts) within this downtrend. If you're worried about option decay, may I suggest July 35's (premium of 1 1/4 point) or 32 1/2's (premium of 1 7/8) -- not home-run stuff on a slow decline to the 25 area, but I think a 50% return on either one of them is not just possible but probable.

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