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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: TREND1 who wrote (32765)5/3/1998 3:47:00 PM
From: mike iles  Read Replies (2) of 53903
 
Larry,

Like I said, it's 2 different cultures. You're right, 22 to 39 is a 77% gain but from my point-of-view it's a short-term move. What I'm looking for is the long-term move from the top of the cycle to the bottom, from 90 to ??? This is a move based on the fundamentals (which I'm willing to discuss rationally with anyone that cares about such stuff). Some might argue that we've already seen the bottom in the 20 area but I think the fundamentals point to the 5-10 range. IMO this is like shooting fish in a barrel and the only real risk is one of timing ... because I use puts. So I'm prepared to see 3, 4, 5 cycles of puts expire worthless in order to make the really big hit as happened late last year on the drop from 50+ to 20. My current holdings are split 50:50 between July 20s and Jan/99 15s. Now DavidG will tell us that it's categorically impossible to make money by buying and holding such stuff. Well all I can say is I'm still waiting for him to argue that case with Revenue Canada ... promised him I would split the refund (for some strange reason they think I did make money on MU puts last year).

Larry, how come the day traders get upset when someone says something negative about MU? How does this threaten you guys?

regards, Mike
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