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Technology Stocks : Micron Only Forum

MU 345.82

+0.2%

3:59 PM EST

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To: william j cap who wrote (4993)	11/30/1996 12:59:00 PM
From: dppl	of 53903

William, I hope you're right but I'm looking at MU technically. It is still in a bull channel. It made what can be construed as a reverse head and shoulders (or a "W" shaped bottom), and recently it has been crowding up at the 33 level with little sell-off. MOney flow was very positive for quite a while last week. Big peole are selling, little guys are buying (it seems). So technically the recent chart is defintiely strong. However, as I pointed out on another thread, a failed bull can be as nasty (for longs) as a reversed bear can be for shorts. So one way or the other I don't expect to see MU to sit here, 31 3/4 - 34 for long. If it closes under 31 3/4 then the rally will have failed. Again, wait for real evidence that it has broken 35 to bail out - if you're short. Specialist may be able to play around here - depends on the real strengths and weaknesses. Thomas

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