Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: John Graybill who wrote (65989)	8/8/1999 3:00:00 PM
From: put2rich	Respond to of 132070

John, Thanks for response. I did short very small at 61+ and can hang on if it can not rise much more. Basically you said if they can pump it up and up better cover and go long? The lesson of big drop from 80 to 70, I guess, just in one or two days just 5 mos. ago probably won't make this time that high where the market is no bullish as in March? Will follow your analysis. The volume on Aug. 7th was not very high and I feel not threatened yet. Regards

To: John Graybill who wrote (65989)	8/8/1999 3:40:00 PM
From: umbro	Read Replies (1) \| Respond to of 132070

About 10% (11M out of 100M approx.) of MU's float were short as of July 8, per the Yahoo! Profile link, which is about 2.5 days of short interest. That's a decent sized short position, and short-covering might explain part of the recent spike. By the way, I found it interesting that only about 1/3 of the shares outstanding are in the float. Who owns the rest? Surfing the news at, cbs.marketwatch.com Chip and chip-equipment companies in the Philadelphia Semiconductor Index were in strong rally mode Friday, energized by gains in shares of Micron Technology (MU: news, msgs), up 4 1/2, or 7 percent, to 65 7/8. The sector rose 1.7 percent David Wu, an analyst at ABN Amro, reiterated his "buy" rating on Micron as well as his six-month to 12-month price target of $70 per share. Wu wrote in a research note that he expects DRAM prices to rise toward $7 led by "strong OEM demand and significantly reduced inventories at Samsung, Hyundai/LG Semicon and in Taiwan." Wu believes these factors will help make fourth quarter "upside surprises likely to happen." "Six weeks ago you couldn't give stuff [DRAMs] away at $4, $4 1/2 bucks and now you're seeing instances where pricing is up in the $7 range," said Rick Owens, vice president of research at D.A. Davidson. "It's been a phenomenal turn in the DRAM industry which I think is carrying some of the other stocks along."