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

To: Glen2 who wrote (50363)	1/20/2000 1:20:00 PM
From: John Graybill	Read Replies (1) \| Respond to of 53903

We're below that trendline I mentioned yesterday, which might not be a big deal by itself. But we're below both the 20- and the 50-day simple moving averages as of today, which is a big deal to me. Typically, by the time those averages cross, the stock itself has made quite a move in the direction of the averages. In this case, it would be down. Now that Gruntal has given notice that they're out, the trade-by-trade sentiment has totally changed. There has been determined selling on every rally all week long, which is so rare for Micron during option expiration week that I can't even remember the most recent time it's happened. (It's happened only a few times in five years.) I'm still holding my 70-75 call spread for tomorrow, but at this point it's just insurance for overnight shenanigans by the usual crooks. I'm looking for a short entry today -- 72 1/2 again will do, but I'm not expecting to see it again today -- and then I'm just gonna short as much as I think is prudent and be done with it for a couple of months. Tout-fest season is coming up, and I have a note on my calendar that every year there is a big move that starts after the first week of February. It usually just goes and goes, and it's usually down. No time or price target for my short. Like I said, I probably won't even worry about it for two months or so. I'll put on an out-of-the-money February call spread (80-90?) after expiration as blowoff protection, but that's about it.