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To: John Graybill who wrote (47732)	8/19/1999 8:28:00 PM
From: Walter Xie	Read Replies (2) \| Respond to of 53903

Can you or anybody give a sound reason why the mini crash and then retrace in the last few days? Whatever reason I feel the damage was made. Don't think it's a healthy shake up. Now it got to be more cautious to go long.

To: John Graybill who wrote (47732)	8/20/1999 2:01:00 AM
From: DJBEINO	Read Replies (1) \| Respond to of 53903

Fujitsu to Spend 40% More Than Planned to Boost Chip Capacity This Year By Miki Takeyama with translation from Peter Poole-Wilson Fujitsu to Spend 40% More Than Planned on Memory Chip Business Tokyo, Aug. 20 (Bloomberg) -- Fujitsu Ltd., Japan's fourth- largest computer chipmaker, said it will invest 40 percent more money in its microchip business in the year to March 2000 than it had initially planned to boost output of more sophisticated and profitable chips. Fujitsu, whose shares have more than doubled to record levels this year, will spend 90 billion yen ($803 million) on its chip business this fiscal year compared with its initial plan of 65 billion yen, said company spokeswoman Naomi Ogawa. The extra spending will be used to increase production capacity so the company can meet surging demand for flash memory computer chips -- used in portable products such as mobile phones -- and logic chips used as the brains in household digital appliances. Orders for such devices are so strong Fujitsu's chip business may return to the black this fiscal year, Ogawa said. ''At the beginning of the fiscal year we were looking at an operating loss of 10 billion yen on our chip business for the year, but now it looks like we could make a little bit of money,'' said Ogawa. Under President Naoyuki Akikusa, who took over in June last year, Fujitsu is trying to steer away from low-margin or unprofitable businesses such as computer-memory chips, which contributed to its loss in the year to March 31. The company will concentrate instead on more profitable and sophisticated devices such as flash memory chips used in mobile phones and other portable electronics. The fresh money will go towards tooling up four Fujitsu factories in Fukushima Prefecture and Iwate Prefecture, northern Japan, and its Gresham factory in the U.S. state of Oregon. Tokyo-based Fujitsu, Japan's largest computer maker, until now has been making dynamic random-access memory chips -- the memory chips most commonly used in PCs -- at its Gresham and Iwate factories. It's reducing its production of DRAMs and will use its new investment to reconfigure production lines there to make flash memories and logic chips for products such as camcorders. Fujitsu's joint venture in Japan with Advanced Micro Devices Inc. of the U.S. is already the world's dominant maker of flash memory chips. Flash memories retain their information even when their power source is turned off, making them ideal for use in portable products such as cellular phones and hand-held computers. Fujitsu lost money in the year ended March 31 and posted earnings declines each of the previous two years, in part because of losses on DRAM chips. Fujitsu said earlier this month it will stop making DRAMs in Japan by the end of 2001 as it shifts to more profitable types of chips. Fujitsu shares rose as much as 40 yen to 3,320 yen in early- afternoon trading. The stock reached a record 3,680 yen on Aug. 3.

To: John Graybill who wrote (47732)	8/20/1999 10:49:00 AM
From: Thomas G. Busillo	Read Replies (2) \| Respond to of 53903

John, 60 looked like the favored strike last night, so the strength is surprising. If they're going to do it, they'll need some serious mojo in the p.m. I just looked at the closest 4 series from the CBOE board: Call OI Put OI 55 3555 4260 60 5609 3299 65 4559 820 70 4680 677 ----------------------- ITM $ITM 54 9056 43906 55 4796 34850 56 8351 33609 57 8351 32368 58 8351 31127 59 8351 29886 60 5052 28645 MIN ITM contracts (AUG 55-70) 61 10661 36312 62 10661 43379 63 10661 51646 64 10661 59313 65 9841 66980 66 14400 80026 67 14400 93072 68 14400 106118 69 14400 119164 70 13723 132210 71 18403 150613 I guess if it's close late in the game they could try and pin the 65's too. Looks like that's where it's headed. Then again, this is MU we're talking about. So basically the conclusion coming out of the above is that MU will either go up or down for the remainder of the day <g> Good trading, Tom Edit Mode: So as an after thought, IF it continues to go vertical and is 66-67 2:30-3:00 do you risk a late-day day trade on the short side in anticipation of them finding a way to get it back down to 65? I've done the "CA options pinning day trade" before and it's turned-out alright, but I definitely was questioning my own sanity when doing it. Will be interesting.