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Technology Stocks : Micron Only Forum

MU 339.80

+1.9%

2:40 PM EST

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To: pat pasquale who wrote (31946)	4/10/1998 11:41:00 AM
From: John Graybill	Read Replies (1) of 53903

Larry's channel graph, which MU has been locked into, projects a close at expiration of 27. I don't know if last week's scam move up to 33 was the "fake" move that Big Money typically pulls toward the option cycle to buy back all the puts they wrote or if we still have another one coming. I think we've had 5 down days in a row on MU so Monday will probably be up, even if it's only a little. But that would be a very good "step" in the graph to let it dribble away a little bit each day next week, right into expiration. I would have liked to see more volume on one of these down days, or a convincing close below the 28 support, as others have mentioned. Never heard of this latest gang that downgraded MU. It's rare for a little company to come out of nowhere and give a downgrade, so who knows if the big boys are gonna let 'em have their fun or if they'll get nervous about somebody not "playing along" and start downgrading. (But nobody jumped off the bandwagon when Brown Brothers called the top when they downgraded back at 36.)

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