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Technology Stocks : Micron Only Forum

MU 225.89

-1.1%

3:59 PM EST

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To: Robert who wrote (45681)	5/10/1999 11:32:00 AM
From: John Graybill	Read Replies (1) of 53903

I still say we see MU in the teens by Labor Day. My eyeball of the graph of the past two weeks or so says that this bounce is somewhat "pro forma" -- it bounced simply because it almost always bounces when it meets a previous peak on the way down (35 in this case). I didn't see the big volume associated with a bottom. Could Simplot have picked the bottom so perfectly (badly) again? Merrill was right there to issue an upgrade (to dump the shares they picked up from him), so I am thinking that this bounce is simple distribution. July's $70M-or-default interest payment looms, and this quarter, ending May 29 or so, has been a disaster revenue-wise. I doubt that there are any more sugar daddies. Wonder what kind of one-time trick we'll see in the next quarterly report. MUEI fire sale?

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