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Skeeter, unfortunately, I don't see a bounce occurring. I think we are headed straight down; it's just a matter of how low we go. I suggest you load up now on some July (or October) puts real soon. My gut, last week's nosedive, and the market conditions overall (Microsoft talks break down, Indonesia unrest, threat of highter interest rates, Asian contagion getting worse, tulip mania, etc.), tell me that MU is going down hard this time (below $15 perhaps). No rabbit will be pulled from the hat this time; investors may be dumb but they are not stupid. Finally, as to MU's future, I hesitate to quote Fred Hickey again (who by the way has been awesome; his newsletter is really insightful), but will nonetheless, this coming from the May 2, 1998 issue: "Micron's quarterly loss looks to be a spine-tingler. Since MU hasn't sold any pieces of itself this quarter, lots of cash should evaporate. MU'S STRATEGY OF BEING THE LAST MAN STANDING DOESN'T LOOK SO GOOD RIGHT NOW, ESPECIALLY SINCE S&P RAISED SAMSUNG ELECTRONICS' CREDIT RATING LAST MONTH." (Fred say more about MU, this is merely a portion). In any event, if this is the poorhouse that some MU bulls have predicted for me due to my bearish comments, boy I can't wait until I start making some real money! Thanks for all of your posts. |
