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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (28372)	8/24/1999 12:20:00 PM
From: Al Serrao	Read Replies (1) \| Respond to of 50167

Uncle, don't forget TXN holds a nice piece of MU since they sold their fab plant to MU last year. Talk about a melt up look at that TXN go and the earnings just keep on getting better. Best regards.

To: IQBAL LATIF who wrote (28372)	8/24/1999 7:59:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 50167

As one of those MU bears, I will say, I have no put position on MU at this time. I know manias can run a loooong time as there are more dumb J6Ps out there than people that can disect a 10Q and read through the smoke and mirrors. I will drive out to where ever you are and eat my hat, or whatever if MU EVER earns $5.00 a share in 2001 not counting them selling the entire franchise in a bankruptcy proceeding or liquidation. The idiots paying these prices for a stock that will never earn any money 4 quarters in a row (heck 2 quarters would be a miracle at this stage) are fools. I however know that there are a lot of fools out there and won't step in front of this freight train until the money has been parted from those fools. I could ride it up but why buy a stock that you KNOW is a dog, and who's workers live all around you and tell you daily how screwed up things are there. I couldn't sleep at night. Besides, as this price grinds up slowly over the next few weeks, I will pick my target then get the full enjoyment of watching weeks or months worth of gains evaporate in a matter of hours or days as my puts go up 5000% once again like all the times before when MU and their analysts said, "But this time is different, we will will make money this time" <ggg> Just the fact that SImplot fired a CEO for telling the truth about how the company would nopt turn a profit says enough to me but as W.C. Fields said, "there's one born every second". Manias last a while but fundamentals always win in the end. A rose is a rose is a rose just like MU is a dog with fleas. I am no real bear but I want earnings growth and some sort of a sign that a company will earn money some day. We were chastised for saying DELL had hit the top for the near term last year due to their splitting too many times making it harder to have big upside surprises and that computers would be a commodity. Well we were obviously worng because DELL has gone up..... Oooops, it is still 20% below where it was then. Sorry. Hey, Maybe DELL will make a new high this month but what were we doing with our money the last six months while others were tied up in a static DELL? (I am actually bullish on DELL or at least was before the last run up) ALso note MSFT was my #1 pick for a long last week. I am not a bear, nor am I a bull. I am a trader that relies 90% on TA but also wants some fundamentals. Because MU goes up doesn't mean it is good. It means that there are more people that believe the alleged lies than don't ( more buyers than sellers). The more anlists that tout MU the better as it means my time is drawing near. AOL was the must have stock and a real bargain according to the release just days before the top price which was double the current price. I have had no position in MU. >>I make sure to remind the bears of their 'plethora of nonsense'<< Of course I also was not long the SPX at the top and touting it as a buy nor was I short as we started this latest rally pushing to buy puts. I in fact was looking for this rally as I high probability as posted on the other thread. AS I said on my site, there is no fundamental reason to rally right now but the charts are pointing up. We have now almost reached all my objectives and I will re-evaluate the market as these targets are met. We getting close to my 5.9% long bond where I will have to decide if we bounce and start heading to the 6.5% possibility or we keep dropping to the next target that I don't remeber off the top of my head since i have not looked at that chart in a while. One last note, I am not posting muchthis week because I am working long and strange hours. I am unfortunatly also unable to trade due to these same reasons. Next week, my hours will be such that I will be able to day trade but won't even get a chance to play with daily charts at all since I will be working when my data comes in and will be sleeping just enough to be able to get up and day trade some more before going to work. The current market rallied harder than I expected reaching my forks faster than anticipated. This has caused the inclining lines to be hit faster thus making the resulting hits at lower prices than I originally expected. I don't have the time to re-evaluate yet if the lines will now be crossed for a blow off top or if they will hold and reverse. I do see us dropping by mid to late September based on market reaction to the next set of economic data in that time frame. PPI and CPI data is a lagging indicator. For this reason I felt a rate hike was coming today despite the benign last reports. Now the inflation will finally show up inthe next reports but the folls will forget this is lagging data and will panic figuring the Fed will raise again. Of course AG usually raises 3 times also so all this will get talked about inciting panic and a drop. This drop will be a buy opportunity IMO. I will let the charts tell me when, in the mean time, I will be waiting for the time to play the drop first. Of course if I am not working <ng> Note on my SPX chart today, the line for today was at 1374, high today was 1373+. So I missed by a little <ggg> Just got beeped so have to run again, Good Luck, Lee