DELL & MU from a TA point of view ONLY ! Message Board

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Technology Stocks : DELL & MU from a TA point of view ONLY !

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To: TREND1 who wrote ()	3/29/1999 6:56:00 PM
From: John Graybill	of 36

Just like Friday, but very much more so, everybody but MU was up and up big, and I must conclude that there was plenty of selling of MU into the overwhelming buying pressure experienced by the rest of the market. Broad market, narrow market, you pick it. It looked like the word was spread at 1:00:00 pm that DJII 10K was the day's goal, and They kept kicking it every 15 minutes just to make sure. SOX: Only perennial basket-case NSM, recent basket-case AMD, and everybody's recent whipping boy RMBS were down. MU's close was not one for the bulls to hang their hat on, despite its actual up-close. Not only was everybody else up, they were up pretty good. 48 1/2 or so looks like it is firming up pretty well as upside resistance. I'm waiting to see what a break of 47 does, because it peaked a couple times in that area back in November. Looks like They are defending it pretty well, but 47 to 48 1/2 is a very narrow range for MU to trade in for any length of time. Still short via Apr 50 puts, gonna try to sell some 47 1/2's against them at the next short-term bottom. That 300-contract strangle at 47 1/2 I saw the other is foremost in my mind.

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