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

To: James L. Fleckenstein who wrote (41431)	12/16/1998 3:12:00 PM
From: John Graybill	Respond to of 53903

here's some comments I made in another chat room today: "here are a few things you should know about analyst reports and option expiration: (1) any upgrade or announcement that comes during option week is suspicious; the later in the week, the more suspicious. (2) any upgrade during any trading day is suspicious. (3) the combination of 1 and 2 is an outright scam. (4) when you get an upgrade (or "coverage initiated") and the stock doesn't move up, you have a real dead dog on your hands -- you aren't in cahoots with the market makers and it is soon obvious that you've got one sorry position on your hands." MU (the stock) is famous not only for expiration week touts and upgrades, but lately MU (the company) is rapidly building a reputation for saving the big news for earnings announcements, and delaying the earnings announcements until after option expiration if necessary, as they have done this time. Scroll back through this fine thread, which is the de facto library of analyst and press coverage of Micron, concentrating on the week of option expiration. In the category of "big news", I especially recommend to your attention the last two earnings reports; in the "expiration week touts" category there is no purer manipulation than that of Goldman Sachs during the expiration weeks of December 1997 and January 1998, except of course for Tom Kurlak's never-to-be-surpassed touts up AND down within a week, and both within the week of option expiration of August, 1997. p.s. Note how long MU held its gain from today's mid-day tout -- about twenty minutes. Looks like 47 1/2 is the strike of choice for Friday, even though 45 is the overwhelming favorite for both put and call open interest. The trend in the overall market looks downward to me, and I expect that MU will go down if the overall market does.