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

To: Skeeter Bug who wrote (30939)	3/23/1998 12:21:00 AM
From: John Graybill	Respond to of 53903

>>when MU hits 28 I don't know what I'll do... IMO, exit your shorts IMMEDIATELY when it touches 28, because it's gonna bounce right back up. Look at the graph and note that 28 was a short-term high (resistance) on the way up, so it will be short-term resistance on the way down. You can re-enter on the top of the bounce, which could be 29 or 29 1/2. You'll see on the graph that MU rarely just slices through any kind of resistance that has become support. (Aug/Sep was an exception of course.) Also keep in mind that the first move for MU after option expiration is almost always a fake.