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To: sea_biscuit who wrote (19505)7/22/1999 6:19:00 PM
From: Jock Hutchinson  Read Replies (1) | Respond to of 25814
 
A big thanks Dipy. I did not know that Yahoo had such deep historical charts. Do you know how far back they go?



To: sea_biscuit who wrote (19505)7/22/1999 6:40:00 PM
From: Jock Hutchinson  Read Replies (1) | Respond to of 25814
 
Not to belabor the point, but the 10 million shares clearly indicate climactic selling, and if memory serves me right it was the session after the earnings were announced.

More to the point, the earnings that were announced were record earnings as well as record revenues, but it was the forward looking sentiments going into this earnings announcement that had brought down the entire semi conductor sector.

The slide had actually started in October, and it was punctuated by the December 15, 1995 earnings announcement of MU that contained a decidedly negative forward look. I was in Boston, on that Friday and two days before I had sat next to a Fidelity fund manager on the plane from Chicago who told me that his people were dumping MU big time--that it might pop up to 55, but that it would fall apart on the earnings announcement. I had been trading it, and I was long at the time. I called my broker at home and got the heck out.

On the way back home on Sunday, I sat next to Coach Mike Ditka who got on the plane at Cleveland. It was a much nicer ride home than it might have been were it not for the guy from Fidelity.