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Technology Stocks : MICRON TA ONLY -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (211)	1/6/1999 11:56:00 AM
From: John Graybill	Read Replies (1) \| Respond to of 214

A perfect example of tape-painting today at the open: * Yesterday's close was 54. * Before today's open we saw news of an order imbalance, and an indication that MU would open at 56-67. It did. * And yet somebody managed to squeak a trade in at 53 7/8? Yeah right! An old stock market adage I have posted before is that "the gap is always filled". Nobody knows why that is (almost) always true. But that phoney 53 7/8 trade fakes out anybody who plays gaps, and all data services, and abra cadabra this "exhaustion gap" simply does not exist on the charts. I have no reason to think we'll be back to 54 any time soon, nope!