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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (99599)	3/23/2000 1:01:00 PM
From: tejek	Respond to of 1574061

Thread: Cramer's take on why MU went instead of down after its poor earning's showing.....actually portends well for AMD! ____________________________________________________________ Missing the Point of Micron's Move By James J. Cramer 3/23/00 8:19 AM ET Click here for the latest from James J. Cramer. None dares to call Micron's (MU:NYSE - news - boards) move a conspiracy. Yesterday many of you emailed me that it was an outrage that Micron went up -- like it was rigged or something. Wrong! Micron may have had a terrible quarter. But remember that stocks trade on outlooks, not rearview mirrors, and the outlook for this stock is just dynamite. The outlook, the conference call, was bullish. Not only that, but people were short this huge, just huge, because they heard it was a crummy quarter. They tried to press it down in after-hours trading by offering a ton of stock. But it didn't incite panic. It incited new buyers who liked the fact they could buy a tech stock at a discount. There is no manipulation here. Often bad things don't happen to stocks that have bad quarters. If you reacted to the printed number, the reported number, you were foolish, and I mean that in the traditional sense. (Thanks to the many people at Fool who were kind enough to send greetings after I defended the Fool's disclosure policies after the Journal's attack, and double thanks for the incredible work the Fool is doing on excessive margin.) Think forward, not backward. It will make you a lot of money. -------------------------------------------------------------------------------- James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned.