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To: Patrick Koehler who wrote (27756)2/4/1998 11:36:00 AM
From: DavidG  Read Replies (1) | Respond to of 53903
 
Patrick,

I had an overbought on most of my techs last night. As far as MU I see it showing some support at 36-36 1/4 and now a n/t resistance at 37 -37 1/4. I went long at 36 3/8 but got out at 37 1/8 this morning.

Will go long again if it goes down to 36 3/8 again. On second down I will get rid of my MUPUs that I bought yesterday at 3 1/2 to 3/4(Planning to get 4-4 1/4). Still holding on to MUPFs from last week at 3 1/2. Not planning to sell yet but use as insurance while I'll continue to play the long side.

If MU does break 36 than I believe another retracement to 33- 33 5/8. Then I will sell MUPFs.

I do agree with you that MU is looking very strong longer term but s/t I would like to see some backing and filling.

Good Luck Trading

DavidG



To: Patrick Koehler who wrote (27756)2/4/1998 4:40:00 PM
From: Kerry Phineas  Read Replies (2) | Respond to of 53903
 
PK, find it unlikely that the stock will rise to 45-50, but definitely not impossible. Also that sounds like a good strategy; I'm sure that you know that going short and buying a call is an artificial put. Put-call parity would have short stock and long call equivalent to owning the same strike put and a cash level equal to the Present value of the strike price + dividends. Good luck.


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