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To: DavidG who wrote (33729)5/20/1998 11:08:00 AM
From: Patrick Koehler  Read Replies (2) | Respond to of 53903
 
David, with 7 red candles in a row, the bear will say that the trend is down, and will follow with another red. The bull will say a white is due, because 7 reds is too long of a trend.
I have made a study of it for MU in the past, but only remember that the odds were not good enough to follow, as most TA other than stochastics.
Patrick



To: DavidG who wrote (33729)5/20/1998 11:11:00 AM
From: E_K_S  Read Replies (1) | Respond to of 53903
 
Hi David - MU continues to trade lower with the OBV getting more negative. According to my observation of the bid sizes and ask sizes, there always more stock flowing in (at these lower levels) to sell.

I wonder if $22 will be tested this week? I will be watching to see how the support is at $25. So far, my guess is this stock continues to leak oil and may even blow a gasket on any negative news.

Did you notice how weak SOX is? It tested 295 retest but failed and is now trading below 290. My target is 250 which I believe it should hold.

At 8:14 AM PST MU 25 5/8 bid size 10 ask size 1500!
SOX AT 287.83 DOWN 6.20.
EKS