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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Ira Player who wrote (46278)	6/11/1999 1:35:00 PM
From: DJBEINO	Read Replies (3) \| Respond to of 53903

11-Jun-99 11:39:19 After soaring 17.4% in the last two trading sessions, it is not surprising to see shares of MU pulling back a bit today. The stock has pulled back to $44 7/16, down $1 9/16 (even with today's loss MU's weekly gain remains at 17%). Micron's I-Watch chart shows profit takers have over-powered the small volume bids offered at various stages of the session. There were several large sell offers just before 11 AM which preceded a big price decline. It appears as though those orders were filled and with no new major sell indications, MU has to regained some lost ground. Institutional investors are active in today's session with block trades accounting for 57% of total volume. Analysts continue to be optimistic regarding the prospects for the chip sector so we would chalk up today's decline to some routine profit-taking, rather than a result of any changes in the fundamentals of the company or sector.