Vinman,
it maybe moving up in sympathy with INTC. At Intel's conference yesterday, they assured everyone that they were looking at a turnaround in the 2nd half. CPQ traded up today because of that conference, and it may have helped lift MSFT as well.
If MU moved because of INTC, most likely we should see a pull back soon. Grove maybe saying that things will be great in the 2nd quarter, but a lot of the anaylst I've been reading today say that INTC will have flat to down earnings this year and next. Not really good news, at all.
Also, according to an article in theStreet, 1.03 billion shares traded on the naz today, 2nd only to the Oct 28. rebound. Not sure if this is significant, but there seems to be a lot of money out there looking for underpriced stocks.
Also, Kurlack issued a report yesterday saying he looking for more layoffs for semis in the months ahead (such as national semi's announcement today.) His reason was because of over production and declining demand. (Overproduction, possibly, buy declining demand, I'm not so sure about.)
I bought some MU puts today on Kurlack's report. Hope he is right.
Good luck on your trades.
- Chris |
