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To: Fabeyes who wrote (41714)	12/24/1998 10:04:00 PM
From: Carl Held	Respond to of 53903

Trading Sardines - Right on the money!! by: JOXMAN98 18127 of 18129 Here is my take on MU's earnings release. First, I'm disappointed that the stock didn't open at around $57-58. I was excited all night to short this baby big-time in the high 50's! Second, MU disclosed a lot of weakness is thier earnings release / conference call: A) PC products up only slightly in the high volume Qtr with pricing over 20% lower!! Not a pretty picture! B) Memory Biz is improving in terms of demand and pricing - but MU acknowledges that Koreans have idled capacity for the time being. Once pricing is above variable cost levels expect these major players to ramp-up bigtime. C) Balance Sheet is not strong - they cut R&D - short term boost to earnings - and the dilitive effect of the TXN and INTC deals will make it difficult to reach EPS goals. I believe TXN must hold MU stock for a six month period. However, TXN publicly said that they will sell MU shares as soon as feasible. That will add to the selling pressures. But don't worry, Mgmt will be out of their shares by then!!!! Black out period is over - watch the insider trading in Dec / Jan. It will almost be criminal!! Hoping for a bump on Monday - Short at $54 is sounding very good.