Note from Michael Murphy on Micron:
cbs.marketwatch.com
(I apologize if this was already posted earlier this week.)
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For money committed to the stock market, Murphy says mutual fund investors should think about conservative growth and income funds, equity income funds and utility funds. When it comes to individual stocks, he says the consumer staples like Proctor and Gamble (PG), Clorox (CLX), Colgate-Palmolive (CL) and Philip Morris (MO) are all candidates to check out, as are the drug stocks, like Pfizer.
If you've just got to have some technology, he says go with Ascend Communications (ASND), Compaq Computers (CPQ), Dell Computers (DELL), Micron Technology (MU) or Apple (AAPL).
"Micron has been in a basing pattern for about 2 years," says Murphy, "It recently set a 52 week high. It's backing off here a little bit, but if it can break through, and we think it will, we could see it move up to 90."
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