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

To: TREND1 who wrote (31737)4/3/1998 2:15:00 PM
From: DavidG  Read Replies (1) | Respond to of 53903
 
Larry,

Twice it hit 30 3/4 and bounced off. I took some profits off of the table at 30 7/8 just in case. I am sitting with a 50% short holding so if Micron decides to breakout to upside I can short up to 33.

...hmmm, am I beginning to sound like a bear? I have not been long since Monday. If you hear me using obscene language in reference to MU than you know I am losing on PUTS and shorts and you can then call me a "forever bear".<vbg>

I can't see MU above 33 near term. Too much overhead resistance. I am already showing MU overbought on Stochastics although Momentum is still positive.

Good Luck Trading

DavidG



To: TREND1 who wrote (31737)4/3/1998 2:25:00 PM
From: johnlea  Read Replies (1) | Respond to of 53903
 
there is so much upward momentum in the markets, it truly is hard for anything to go down. it feels like someone just keeps blowing into a balloon and it just keeps getting bigger and bigger and bigger. of course, we all know what happens to over inflated balloons ;0). amazon.com is my absolute favorite. current price of 8500 times fy99 forecasted earnings. sure does remind of netscape in the early days. it's going to be an interesting 3 to 6 months.


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