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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: mike iles who wrote (23802)	11/11/1997 12:35:00 PM
From: mike iles	Read Replies (2) \| Respond to of 53903

Hey Mike (eh?) A quick check of the charts ... MU made a spike high at $60 1/16 fourteen weeks ago. And it's now down about 57%. All the other big PC guys (with the exception of the leader of the pack, MSFT) made broad tops which ended about 5 weeks ago. And they're down 20-25% with the exception of AMAT which is down 40%. This covers INTC, AMAT, CPQ, and DELL. Microsoft, by contrast, made a spike high at $150 3/4 seventeen weeks ago but is only down 13% from that level. Actually, if you ignore that spike as being an anomaly (sweep reality under the rug), then MSFT is still making its top - which fits my theory much better! So what's the point??? My theory is that we've started a bear market in PC-related stocks, or at least a major correction, and the junk is leading the way (MU ... probably throw GTW in there as well). Other stuff is following but isn't down nearly as much. And the undisputed king of the hill, the champeen of the known universe, the mighty MSFT (we laugh at Janet Reno ... very revealing comment from Ballmer ... they laugh at the U.S. Justice Dep't. ... is this hubris or what?) hasn't really cracked at all. Maybe it's got a mild cold. If you go back to the last big bear market in this sector (going from memory of Fred Hickey's comments) MSFT was down 40-50%. So if we get a similar pattern, this bear still has a long way to go ... we can ride the junk down to single digits and then switch to MSFT ... (why MSFT?? ... first and foremost, an incredible valuation [10-12X sales ...some number like that] combined with slowing growth, Java, and a whole slew of legal problems (their next acquisition will be a law firm) led by the Justice Dep't. and Ralph Nader ... ++++ incredible arrogance) 'MU ..................... tanks'