Paul, nice try there Paul....
According to the sources (more recent than IBD) Fidelity has been aggressively buying MU and technology stocks in general such as IBM, INTC,CSCO, ORCL etc. This is an incredible bull market and according to the latest Barrons which two weeks ago the bears on this thread hold up as a Bible, indicates that there has been big time PUT buying going on......
Hence , the bullish sentiment is not as great as one might infer from this mkt.....
Thus this mkt has still a long way to go....
Rates and Inflation are LOW.....
Earnings are still great for many stocks and growth rates for the semi industry are projected to be in the 17-20 per cent rate for the next 3-4 years.....
Companies like IBM have bought and intend to continue to buy back BILLIONS, that is right BILLIONS of dollars of their own stock back..
People love to be entertained and many of these tools PC's, games etc require more and more memory with new software and hardware constantly been developed..
The giants like Samsung I read are going to try and make Every Effort to try and stabilize the memory mkt.....
If this downturn is just about ,or to be over in the next 6 months then the mkt is not wrong in bidding up these stocks.... Picking the turning pts in commodity stocks is very difficult....
This MU stock looks like it is definitely breaking out ... The longer it stays here with the occasional down day or even down week the worse it it to the bears puts...If MU opens up any day 2-3 pts then the puts are finished ......The trend is your friend is something everyone has heard ,,, but it only really makes sense when you bet against it and lose everything... Good luck to everyone this week... |
