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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (3621)	3/30/2001 11:24:59 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Tim, do you thing that IFMX might have some life left in them?? MU and Niles weighing on the mkt 11:18 ET Market Action : Saw heavy selling in Dow and S&P 500 components as investors/traders prepared for Nasdaq (-25) test of 1794. Bounce off this level has generated minor buying interest, but investors/traders still in defensive mood. While interest in top names could allow Index to hold, does not necessarily mean that it will stem technical/capitulation selling in some of the momentum names. Investors continue to be extremely selective, with focus on healthcare, oil, and tech heavyweights. 11:17 ET Micron Tech (MU) 39.80 -5.45: -- Update -- Micron opens lower and continues to sink; negative comments by Lehman's Dan Niles weighing on stock; he notes sharp increase in days of inventories to 120 days in Feb from 90 in Nov, saying that this "shocked" people given last week's comments from MU on inventory. He notes that many of the low inventory figures cited recently by MU and many foreign companies included only finished goods and are understated; instead of the 2-3 weeks of inventory cited by many, he believes that inventories are closer to 6-10 weeks when work-in-progress and raw materials are included. He also notes that the recent firming in DRAM pricing has reversed in the past 2 days.