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Technology Stocks : Micron Only Forum

MU 246.84

+4.2%

Nov 14 9:30 AM EST

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To: John Graybill who wrote (43198)	2/24/1999 9:00:00 PM
From: John Graybill	Read Replies (1) of 53903

Well, 75 surprised me today, that's for sure. They got me on the first dip to 74, and I was dumbfounded to see MU continuing up for another half hour while everything else was busy wiping out the today's gains, yesterday's trading, and most of Monday's giant run as well. We were creeping along at 74 and change, and all of a sudden there was a whooole lot of stock available at 75. Lots of trades and lots of big blocks of up to 50K. Stop-running? A 200K block and a 150K block traded within a minute or so of each other on the way down at 72 1/2. There was a block of 217K after the close -- has end-of-the-month fund buying begun? FWIW, Fleck's column tonight notes that the FASB is starting to take a dim view on a particular type of one-time charge, which is no doubt abused to the point of illegality by much of the tech sector. "The one-time charges, which free up a company's future earnings, please Wall Street equity analysts who tend to favor one-time charges over amortized costs that depress future earnings." stocksite.com biz.yahoo.com He also notes a striking coincidence. The headline of the article came out at about 2:25. See any correspondence with the beginning of the afternoon dump? :-)

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