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To: Richard Russell who wrote (30252)	3/16/1998 2:12:00 PM
From: johnlea	Read Replies (2) \| Respond to of 53903

<<could earnings be a non event to the price?>> i tend to agree with you, rr. both up and down expectations seem to already discounted. everyone knows and expects the quarter to suck, and the stock is already priced on the anticipated fy'99 dram price increases. it sure doesn't look like prices will be increasing earlier or faster than expected, so there is no news to drive up the price. the only realistic potential, although apparently a low probability, is that mu losses are deeper than acceptable to the market or that the "future picture" changes with the dram glut lasting longer and/or stronger than currently envisioned.

To: Richard Russell who wrote (30252)	3/16/1998 2:37:00 PM
From: Patrick Koehler	Respond to of 53903

RR - I just sold my long position and stepping to the sidelines until after tomorrow opening. If you look at the earning estimates, my name is not on there. I stopped wasting my time trying to figure it out, and it doesn't matter anyway. I was looking forward to some play on this report, but my computer is neutral, but I got out before it gets too late in the day. I would like a straddle, but the premiums are too high. So, like DavidG, I prefer to have no position tonight, and play better odds on the computer after the report. Good luck to all on your positions. I'll go with the flow after today. Patrick

To: Richard Russell who wrote (30252)	3/16/1998 7:16:00 PM
From: The Vinman	Read Replies (1) \| Respond to of 53903

Actually, I think MU will drop tomorrow, but not a lot, I would guess 32 for the low, this market just doesn't care. First Call just revised earnings growth downward again for S&P to 1.8% for the quarter from 10% in January. I understand the liquidity, lack of inflation (especially in oil), interest rate arguments, but this market is absolutely ludicrous, S&P is 23 times this YEARS earnings, highest level ever.....trust this, it will be very very very ugly when it all falls apart. Good Investing Vinman