Larry, some data from past Kurlak "anti-touts" is as follows:
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August 13, 97: Prev. close was 49.75
Opened gap dn at 44, hit low of 41.69 for the day at 10:24, but
had a low of 41.18 at 10:18 the following day. The only
"anti-tout" that had a lower low other than day of a-tout.
Five days later, MU hit 48.13
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Dec 16, 97 (day of report) Prev. close was 22.5
Opened gap dn at 22, and had low of 22 at 9:38, and 7 min.
later was at 24! 3 days later, MU had high of 27.5
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Jan 16, 98. Prev. close was 31.56
Opened gap dn at 30, and had low of 28.5 at 10:38.
4 days later, MU had high of 33.75
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Feb 11, 98. Prev. close was 37
Opened gap dn at 35.88, and had low of 35.38 at 9:45.
One day later, MU had high of 38.06
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May 15, 98. Prev close was 28.5
Opened gap dn at 28, and the low, so far, of 27.43 at 11:00
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Will MU bounce again over the next 5 days, as it has
on the previous 4 a-touts? The odds are that it will.
Patrick
Larry, the option open interest is still 30, but less than
3000 contracts over 27.5, so don't expect to see a big
influence.
As for my trades, I have been killed over the last 2 days, but
that is water under the bridge. Looking for expectations of
the next 5 days, and I am expecting a bounce from today's
low of 27.43.
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