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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Dnorman who wrote (2146)	8/22/1998 8:03:00 PM
From: ElGator	Respond to of 18998

RE: MU I covered some time ago in the low 20's. Everything that was wrong with the company a few weeks ago is still wrong with it today. It's a real dog and should be trading in the low to mid teens. Problem is that the whole sector is starting to improve and all ships tend to rise with the tide, even the ones full of rats, at least for a while. Even though it had started an up-trend, I was really, really, tempted to short it again last week when it became overbought. I'm very conservative with shorts and just didn't like the qualitative factors. I will now go short with a small position in the 35-36 area, if it bounces that far and becomes overbought, and increase the short up to about 38 with a stop around 40. Cover point depends upon the chart and overall market.