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To: Timelord who wrote (559)6/3/1998 8:11:00 PM
From: Thean  Read Replies (1) | Respond to of 14427
 
Alex, it is very likely that by tomorrow morning after market opens everyone would have known about the #6E finding. They have a shareholder meeting tomorrow. Therefore, if SEV refuses to rally after this point, one has better be defensive in case of a selloff upon news. SEV has acted in this way before. There is just no guarantee. However, SEV always comes back. With the general market slumping, I would not want to be too long any stock if you know what I mean.

One can argue that today's action could be a prelude to a selloff upon news. The chart indicates a reversal, except the good news is the low of the day hit the midline BB and it bounced right back. The morning selloff was not on heavy volume but the late day failure to further rally means many people are not waiting for tomorrow. It is hard to figure at this point what will happen tomorrow except I'd say be defensive and take caution to lock in on the nice profit. If SEV is not moving by midday tomorrow, writing that Jun $25 and hopefully keep the $2 premium would make sense.

MU - still hanging by its chiny chin-chin. I'm staying Put.