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Technology Stocks : Micron Only Forum
MU 237.01-3.2%Nov 13 3:59 PM EST
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To: Chas who wrote (42517)1/27/1999 9:09:00 AM
From: DavidG  Read Replies (3) of 53903
 
Chas,

I would be very careful in here. Technically and fundamentally I just do not see MU getting back to 78.

My strategy now, and has been for the past two weeks, is to buy PUTS on rallies and sell them into dips. When the market corrects and eventually it will, especially with the euphoria of the InterNUTS, MU will follow. It would be much better to be on right side going with the path of least resistance.

I am completely convinced that MU has to come back down and test 60 and if it breaks that level than a retest of 48-50. IMO April to June will be a devastating time for the techs as it has been for many years in the past, but especially for MU. It may happen sooner as the InterNUTs fall apart when the insiders get the opportunity to sell their positions.

DavidG
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