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To: Skeeter Bug who wrote (36160)	7/12/1998 8:59:00 PM
From: Thomas G. Busillo	Read Replies (1) \| Respond to of 53903

Skeeter, it's all hypothetical, but I guess I'm referring to cases where spot prices can become either temporarily depressed during a bout of liquidation then rally on the rebound then settle back to long-term trend or, conversely, get a boost off a slew of shut-down announcements then settle back down. So within the larger cycle, maybe you have a series of very minor supply/demand shocks that set things off. I think what happened was the fundamentals were looking so bad into the end of Dec. that everyone assumed the bottom had been hit and the lift we got into January sort of fooled everyone. The stock price kept rising after some of the analysts rushed in and assumed it was something more lasting. Of course, the estimates went down after the Feb. high, but since CNBC is a co-opted dissemination tool for the brokerage industry, they didn't "rate" coverage. Institutions like MU because it "plays ball". They'll hold a coffee clatch with analysts rather than suck it up and pre-announce. Things may get bad, but at least they won't pre-announce and when they do get bad "guidance" will come. One persons "plays ball" is another's "shooting dirty pool". Good trading, Tom