Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Skeeter Bug who wrote (29541)	3/5/1998 9:12:00 PM
From: Richard Russell	Read Replies (1) \| Respond to of 53903

ÿ<Picture>(UPDATE) South Korean Memory Chip Makers Denounce U.S. Dumping Ruling Dow Jones Online News, Thursday, March 05, 1998 at 10:57 SEOUL, South Korea -(Dow Jones)- South Korean computer memory-chip makers disputed a preliminary U.S. ruling that they have been unfairly selling their products below cost, the Associated Press reported Thursday. "We have never dumped in the U.S. market, so we cannot accept the decision," Hyundai Electronic Industries Co., South Korea's No. 2 chip maker, said in a statement. Micron Technology Inc. (MU), a chip maker based in Boise, Idaho, has asked the Commerce Department to investigate alleged dumping in the U.S. by its South Korean competitors. On Wednesday, the department said in a preliminary finding that two South Korean companies - Hyundai and LG Semicon Co. - were selling their memory chips below their production costs. Commerce will make a final decision in June after reviewing South Korean responses. Washington is threatening to impose a 12.64% antidumping tariff on DRAM, or dynamic random access memory, chips from Hyundai and a 7.61% duty on products from LG Semicon Co. The U.S. is the world's largest computer chip market. Hyundai and LG Semicon sell about 30% of their DRAM chips - worth $1 billion - in the U.S. each year. The two firms have been cited for alleged dumping every year since 1993, but each time have been cleared of the charge. Last July, the Seoul government filed a complaint with the World Trade Organization, demanding that the U.S. stop its annual investigation. Computer memory chips are South Korea's key export item. The country accounted for 34% of the world's $20.9 billion DRAM market last year. Micron and other U.S. chip makers have accused their South Korean competitors of creating a global oversupply. As a result, the price of DRAM chips - which allow computers and other electronic devices to store data for quick retrieval - has dropped 80% in the past year, industry officials say. Micron has been prominent in pushing allegations against foreign competitors, first in Japan and then South Korea, of violating so-called antidumping laws by selling chips below manufacturing cost. It has also been vocal in its opposition to the bailout of South Korea by the International Monetary Fund, arguing that any U.S. money that goes to the South Korean companies would effectively reward them for producing too many chips and helping to trigger the price plunge that has hurt Micron and other memory-chip makers. Copyright (c) 1998 Dow Jones & Company, Inc. All Rights Reserved.

To: Skeeter Bug who wrote (29541)	3/5/1998 10:02:00 PM
From: Chas	Read Replies (2) \| Respond to of 53903

Skeeter Bug In reference to you stating you will be buying puts tomorrow; I do plan to buy more puts but I had to take the profit today with Micron showing that strength,For tomorrow, my thoughts were: If the stock opens higher tomorrow morning and continues to mid day, that might be the high point, and one might be able to pick up some MUPG's for 2 1/2 if the stock reaches 35 1/2 or so. This is my guess, so if it happens I will buy puts and hope the rise is over and back to business of dealing with the earnings on the 17th. There is no way the DRAM price is going up, so once everyone realizes this, maybe this stock will sink like a rock. I would appreciate all inputs as I know everyone has different strategies and viewpoints. External influences, like the overall technology sector, more bad news on PC stocks and Intel, could keep Micron from going up any further. maybe this is it for its high point resistance, if thats the case in the morning, I may just jump back in with the puts and not wait. Why didnt I just hold the puts I had today? Well, I guess the 1/2 profit I had was enough to justify taking it off the table. If there was no profit then I would have held them. Good Trading. chas, you sell, i'm buying more tomorrow. good luck. :-) btw, dg always sells puts before the stock goes up and buys them before the stock goes down ;-) always ;-)