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To: Return to Sender who wrote (12532)6/29/2012 2:56:56 PM
From: Donald Wennerstrom2 Recommendations  Read Replies (2) | Respond to of 13403
 
OT: RtS, I liked your post and based on the recent action of MU today, I had to make this post. It "proves" once again that people who want to make money in the market should wait around to see what I buy and sell and then do the opposite. In no time at all, they will all be rich.<VBG>

A small recap of the action. I bought 2000 shares of MU on 6/15. I knew earnings were going to be released on 6/20, and I took a gamble that they would meet of beat their estimate. On 6/20 they missed earnings by 0.12 and the stock "tanked" the next day down to 5.60. It also traded down into the 5.50s over the next 3 days.

Then this past Wednedsay, the 27th, it edged above my buy price so I sold out for an even trade. Once I sold, I obviously had removed a very heavy burden on the stock price<BG>, so look what has happened the last 2 days. As I write this post, MU is trading in the 6.30 area. Net result - I would of been well over another 1,000 richer if I had held on another 2 days at least. It was up 4.4 percent yesterday, and today it is presently up another 5.5 percent.

Now if I would have been smart, I would have sold on the 20th going into the earnings release at 6.20. Then I would have bought the 2000 shares back in the 5.50s on the 25th, 26th or 27th and sold today again at 6.30. Doing this I could have made about 2500 vs "0".<NBG>

Don