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: ratan lal who wrote (31211)	3/25/1998 10:56:00 AM
From: DavidG	Read Replies (2) \| Respond to of 53903

Ratan, I shorted at the open with market orders and then covered them at 29 1/8 and 29 which is an intraday resistance from yesterday. I have shorted again at 29 1/4, 29 3/8, and 29 1/2 and waiting for a fill at 29 5/8 but now do not believe it will happen. MU is finding 30 more and more difficult to go through. A few times yesterday and now twice today. I expect it to go down to 28+ before retrying 30. I would short. Good Luck Trading DavidG

To: ratan lal who wrote (31211)	3/25/1998 11:22:00 AM
From: BSGrinder	Read Replies (1) \| Respond to of 53903

You day traders are amazing - going long to pick up 1/2 point action! I wouldn't dream of being long MU for 10 minutes! I'm here because I have never seen a company with so many negatives, and two big funds having to unload millions of shares so they don't look like idiots in their next quarterly reports. It's a wonderful situation to be short in: no good news can come out of tech, except for software, and no businessman would pay to take over Micron's business (anywhere near this price). The only dangers are: 1. Fund manipulation - but the funds appear distracted by all the money to be made in other areas of the market. They seem to be conducting an orderly withdrawal. 2. Short squeeze - most dangerous in combination with 1, above. The relatively low volatility of this decline makes this less likely. 3. General absurd euphoria - but why buy MU now when other "quality" tech companies are ramping up? MU's decline during the last week of tech mania makes it unattractive for now. That's how it looks to me, so I'm not betting on any significant bounces until MU loses enough value to get some attention in the general tech press, at which point the "buy anything on dips" crowd might do their thing. Just my $.02 worth. /Kit