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

To: S. M. SAIFEE who wrote (50284)	1/7/2000 1:31:00 PM
From: John Graybill	Respond to of 53903

I bought some Jan 70 calls when it dropped below 71 -- as I wrote yesterday, I'm thinking that there are too many of the usual crooks supporting Micron at the moment before the shareholders meeting for it to close at expiration anywhere below the 74 that we saw on the day after earnings were announced. Quick, everybody check the 1-minute graph -- now that is the kind of running of sell-stops at 70 I was talking about on Wednesday. But 73 looks kinda it was supposed to be a nice top for the day, so I am not looking for a repeat of Wednesday when it went from 70 to 74+ in about an hour. For that matter, 75 yesterday was pretty clearly a top, for the day at least, especially the second time it was hit. Lots of volume right at 75, and then absolutely no big-money trading until the closing-hour shenanigans. Kinda surprised we're not seeing it move any higher at the moment. (Currently 70 3/16.) Maybe they're just loitering here for any more sell stops to appear, as they might with all the indexes on a sustained rise but MU stuck in the mud since somebody hit the Buy button at almost exactly 1:00. Watch for the traditional Friday afternoon short-squeeze / get-a-good-close-for-the-weekend rise, if nothing else happens before then. It's not like Them to give the shorts a warm fuzzy feeling over the weekend. -------- Man you gotta love the fund touts on CNBC -- here's a guy who wants you to believe that Micron is a "value" play for the "more conservative" investor (compared to Alliance Semiconductor, I guess): tveyes.com