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Technology Stocks : Micron Only Forum
MU 397.59+2.2%3:59 PM EST
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To: Chas who wrote (37382)8/13/1998 8:44:00 AM
From: DavidG  Read Replies (1) of 53903
 
Chas,

As I said early yesterday morning I expected a move up to 33. When MU went over 34 I could not resist shorting it. I am still short this morning and will look to take some profits as it approaches 30.

Any rallies I will continue to short. I expect a retest of 26-28 then a strong move back up to retest 36. The Montgomery report was very bullish and MU therefore may not go below 30.

Longer term I expect MU to trend higher so after some testing of the lows I will be buying on dips more then shorting on rallies, which I have been doing lately.

The bears who refuse to open their eyes to MU's new fundamentals are in for some serious losses in the nearterm as MU closes on the TXN fabs. MU is a different company with this acquisition, and will be larger and yet leaner, and more efficient with a better focus on their markets and products, and will definitely be the #1 DRAM manufacturer with the lowest cost products. Many Asians are leaving the DRAM business for good reasons, they see the writing on the walls. The foundry business may be the profitable business for them over DRAM.

I may sound like a bull but in reality I trade both sides and have much more of a reason to be unbiased. The nonsense on this thread about MU going to the teens or single digits shows how out of touch with reality the "forever bears" are. One should not fall in love with a stock for fear of getting burned, but the inverse is also true.

Good Luck Trading

DavidG
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