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Technology Stocks : Micron Only Forum

MU 224.54

+0.3%

3:59 PM EST

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To: IceShark who wrote (46077)	6/1/1999 8:53:00 PM
From: John Graybill	Read Replies (1) of 53903

36-37 the past week or so has acted like some kind of Star Trek wormhole -- it gets close to one of those prices and tends to shoot straight through to the other one. But today's late run from 36 to 36 5/8 didn't look like real buying (volume was too low, no big blocks) or even short-covering (too straight, never went parabolic). OTOH, MU traded in a 1-point range for over four hours. Although it was going down, it never collapsed -- small bursts of volume defined the three "bottoms" today. 35-36 has been good support on the way down. And now would be the time to be positioned for a 3-day tout-fest run-up. And... I just read that Bear Stearns is having a tout-fest on June 14-17, just in time to ram it up for option expiration! newsalert.com Ah, who else fondly remembers February, the month that fairly reeked of non-stop tout-festering? I'll try to get a schedule. Just for laffs, I'm looking for a little follow-through selling tomorrow morning to "convince" us that MU completely failed at the 20-DMA, one of those come-out-of-nowhere reversals around 35 1/4 - 35 1/2 within the first hour, and back up to 38 on some vague news/spin by the usual suspects by the end of the week.

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