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

To: Paul A who wrote (22351)	7/31/2001 10:42:48 PM
From: TREND1	Read Replies (1) \| Respond to of 30051

Paul You wrote "My answer to that is you cant teach an old dog new tricks..... " And my answer to above is a "new dog" must learn the hard way. By living it ! Yes! I've been there! But I have learned. Will you?(g) Larry Dudash

To: Paul A who wrote (22351)	7/31/2001 10:59:22 PM
From: TREND1	Respond to of 30051

Paul and the 4 other MU bears. Here is the MU "up channel from HELL"(g) geocities.com Larry Dudash

To: Paul A who wrote (22351)	8/1/2001 3:35:13 AM
From: Steve Lee	Read Replies (1) \| Respond to of 30051

"There is still that outside chance that this was all a short covering rally for MU" I think this is a partial explanation but that the major factor is the recent "announcements" of production cuts from Hynix and NEC. Of course, Hynix is upgrading the 64 Mb plant to produce 256Mb chips - so no long term boost to the DRAM market there. And NEC is merely following its prior intention of switching DRAM production to its Elpida venture. So on this "good news" we still have not got past the July 3 local high. Nice to see the higher volume and retreat from high of day today. Think this has just about topped out. Had I followed my intention to cover on a break of $41, I would have reentered at yesterday's close, but unfortunately I was away from the market each time it broke $41 in the last few days. If it breaks the July 3 high, my position will be closed.