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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: GTC Trader who wrote (21680)	7/26/2001 4:23:43 PM
From: TREND1	Read Replies (2) \| Respond to of 30051

GTC For what it's worth, MU has been in up channel since 7/16/01 I have no position in MU Larry Dudash

To: GTC Trader who wrote (21680)	7/27/2001 7:38:57 AM
From: Steve Lee	Read Replies (1) \| Respond to of 30051

Not familiar with Hurst or Millard. On MU, if it goes further than 41 then we have to admit we were wrong, cover and look for a higher re-shorting point. Anyway, it finished yesterday's extended trading at $40.05 so maybe it has topped out. Now we have Infineon and NEC talking of layoffs and temporary shutdowns. Still doesn't alter the fact that two thirds of MU's Q is over with DRAM prices 50% of what they averaged during their last reported Q. Even with the benefit of last Q's writedown, they are still going to do worse this Q (and have another writedown IMO). Samsung still going strong with the benefits of its RDRAM profits should ensure that MU cannot raise prices significantly. Hoping Zeev's scenario of the MU pump to benefit warrant holders is not going for the early option <g>. Aiming to cover at $36 and reshort above $38 until the pattern is broken. When $36 breaks, should get a v. nice ride down and then might even go long for the ride back up. All in all, we can make good money from these financial engineers of we can let their shennanigans work for us ...