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Technology Stocks : Micron Only Forum

MU 230.24

+2.5%

Nov 26 3:59 PM EST

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To: Land_Lubber who wrote (45157)	4/19/1999 9:22:00 PM
From: John Graybill	Read Replies (2) of 53903

I think there was some short-covering, but the thrust down before the blast-off is suspicious. Tech-stock shorts don't get that arrogant half an hour before the close, especially after a big payday like today. Today's TXN graph shows the same sort of behavior but magnified by an order of magnitude on the volume -- five points in the last 5-minute bar, volume of 400K shares, at least three big blocks in there as well (adding up to over 200K by themselves). That looks like funds buying in size at the close, which says "bear trap" to me. Yep, I need to see 45 or 46 at this point, and I'm still going to wait until at least Wednesday.

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