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To: TREND1 who wrote (36240)7/15/1998 10:20:00 AM
From: DavidG  Read Replies (1) | Respond to of 53903
 
Larry,

Yes I was hoping based on the RMBS earnings and upgrade. I sold my entire long position into it at 28 7/8 and went short an equal amount at 28 15/16.

I have done some analysis last night and although the technicals still look strong I think that 10-q looked very disappointing. I am reconsidering my large position in OCT calls. Maybe Kurlak is right another leg down before the end of the summer. If MU breaks 28 I will sell entire position.

My guess is the test will be soon. If RMBS was not positive I believe MU would have opened down.

DavidG



To: TREND1 who wrote (36240)7/15/1998 10:27:00 AM
From: DavidG  Read Replies (1) | Respond to of 53903
 
Larry,

I just bought OCT 25 PUTs as some more insurance against my OCT calls to protect my profit.

Any comments?

DavidG



To: TREND1 who wrote (36240)7/15/1998 10:48:00 AM
From: DavidG  Read Replies (1) | Respond to of 53903
 
Larry,

It looks like we have a reversal in play now. MU could not take out 30 yesterday. Then it built up resistance at 29 1/4. Today it could not take out 29 1/4 and now it is below its opening of 28 13/16 at 28 5/8.

...so we might see the test of 28 as early as this morning.<g>

DavidG