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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (4844)	11/12/2001 12:50:08 PM
From: t2	Respond to of 99280

Niles Discusses DRAM Market : Lehman analyst Dan Niles believes that upward pressure on DRAM spot prices is being partially fueled by news that Hynix and Micron (MU +1%) have stopped quoting DRAM spot prices. Continues to believe that there is plenty of inventory that will come into the market at these higher prices. Niles expects the normal seasonal pattern of a roughly 10% sequential demand dip in the MarQ to resume. That explains the trading in MU today. Was surprised to see it up so much when the rest of the Nasdaq was tanking. Then all of a sudden, MU comes back down and Nile's comment probably did it. I just decided to buy it for a long trade after it came back..thinking that the initial moves tells me that if the Nasdaq recovers, MU will rocket. Considering how bearish Niles is on the semis, it is hard to just take his word on DRAM prices at face value. I am sure there are opposing advising their clients out there in the investment community and therefore MU looked like a good trade to me.