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To: Patrick Koehler who wrote (24127)11/14/1997 1:24:00 PM
From: TREND1  Read Replies (1) | Respond to of 53903
 
Patrick
I hope my email last night gave you food for thought!
What are the put and call numbers for next Friday ?
20 or 25 or 30 ???
Thanks in advance
Larry Dudash



To: Patrick Koehler who wrote (24127)11/14/1997 1:24:00 PM
From: DavidG  Respond to of 53903
 
Hi Pat,

Didn't check my email yet but agree with your moves. Very smart. I think we need to see MU retest the 25 level before we can make any determination of long term direction. Mu stopped at 22 and has the overhead resistance at 25. Volume yesterday was at 5mil and not bad for conviction of temporary bottom.

I sold my longs at22 3/4 yesterday from 22 1/8 and cleared my MUMEs at 4 from 3 1/2...leaving the close with nothing. Reluctant to hold over night until Saddam Hussein is put to rest. Currently long MU at 22 7/8 and 23 1/4 but have my sells in low. any quick turnaround and I am out....not interested in any opens over weekend.

MU is definitely oversold but still too much negative sentiment but the analysts are not moving the stock down too much which is an indication of bottom. Maybe 20 on downside but doesn't have to be. Earnings and commentary will determine end of year performance.

Good Luck Trading

DavidG

PS: SOXX looks really good more than just dead cat bounce.