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To: TREND1 who wrote (29841)3/10/1998 10:19:00 AM
From: TREND1  Read Replies (1) | Respond to of 53903
 
Brief on "Rail Road Tracks Theory
(1) MU's price leads earnings.
(2) MU's earnings were $1.51 in Sep 1995,
while MU hit 95 and started down.
(3) Last quarter Dec 15, 1997 (MU=22 Earnings $0.04)
(4) This quarter Feb 1998 (MU=34 Earnings $-.25)
(5) MU should not be at 34, but more like 18
BUT MU is not at 18 !
That is "Rail Road Tracks" in action !!!

Larry Dudash
PS: Interestingly, Dan Niles seems to be saying same thing.