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

To: Knighty Tin who wrote (34571)	6/8/1998 6:02:00 PM
From: DavidG	Read Replies (1) \| Respond to of 53903

Mike, Hot Dang! You have a little trading blood in you after all. Selling those Puts around the support level of 22 really makes my eyes water in disbelief. I am really impressed. Even though you know this stock is tanking big time you are willing to take some profits off the table and let the bulls run it back up so you can get back in at a cheaper price. Well...now that was a really nice move. I don't suppose there is any change in fundamentals that might also encourage you to buy calls or go long or at least play a Bull Spread?<g> Good Luck Trading Pardner DavidG

To: Knighty Tin who wrote (34571)	6/9/1998 7:52:00 AM
From: valueminded	Read Replies (1) \| Respond to of 53903

Mike Isn't Micron supposed to report next week ? I was under the impression that it reported before June expiration. By my reckoning, they won't have much positive to say, other than the fact that maybe inventory bit count is up but $ value of it is down. Latest information I had showed 16bit dram south of $1.50 Losses should be pretty high ( greater than the current 1st call of .37 in my opinion) More importantly, I think they are going to have a substantial decline in their cash reserves. This alone could spark some concern on the rating agencies as to the quality of debt service. imho. (I thought that S&P had a news release to that effect after last quarter earnings - although I could be mistaken) What I find interesting, is that latest information I had showed institutional ownership was increasing and now was >60% which seems a little odd PS on a different subject, isnt selling short and then selling out of the money puts a covered position (from the downside) For some reason my broker says I can write covered calls but their is no such thing as a covered put ? Please explain. (does it have to do with the fact that you are at risk of getting the stock called away in the short position ?) thanks