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To: J. P. who wrote (42763)	2/4/1999 7:41:00 PM
From: John Graybill	Respond to of 53903

Tuesday's bogus 72 7/8 close meant that yd's true "change" was off as well, but it did indeed close at 79 1/2. So today's 3 7/8 loss is correct. There was some after-hours trading higher, but no obvious tape-painting. HOWever... As usual, I detect some chicanery. (Which might mean only that I am a nut.) Well, call these coincidences then: 1) There was a big pile of stop-loss orders at 75. I know they were stop-losses because all of a sudden there were about 50 orders that crossed in the same second, all of various and small sizes. They didn't even add up to a decent block trade, so I don't think it was somebody trying to hide an exit. The stock continued to drop to 74 1/8, but there was some after-hours trading at 75 1/2. Stop-running, possibly pretending that the AMD halt mattered to MU? 2) That drop to 74 1/8 was on a lot of small trades. The big boys weren't bailing out below 75, or even at 75. 3) Dropping to 74 1/8 just barely made this an "outside day" -- a higher high and a lower low as well. Some people think inside days and outside days are significant markers. Paging HAL: Do you get excited about an outside day by itself, or only after it is followed by an inside day to become a diamond? We've seen recently that Friday's are usually up-days. The earlier post on the specialists has a good quote: "During the typical bear market, or slide, the specialists will usually bring prices up on Fridays, to keep investors hopes alive." Last week's high of 78 7/8 and the close of 78 are within range now that "Kipp Power" has been let out of the can, which would give us another up-week on the chart.

To: J. P. who wrote (42763)	2/4/1999 9:33:00 PM
From: J. P.	Read Replies (1) \| Respond to of 53903

Tokyo stocks open lower, dragged by high-techs ''Losses in semiconductor makers dampened market sentiment,'' biz.yahoo.com Thursday February 4, 7:44 pm Eastern Time Tokyo stocks open lower, dragged by high-techs TOKYO, Feb 5 (Reuters) - Tokyo stocks opened lower on Friday, as a sharp setback in U.S. high-tech stocks dragged down Japan's semiconductor-related issues, such as Hitachi Ltd and NEC Corp , traders said. The yen's recent rising trend against the dollar also weighed on shares in global manufacturers, they said. At 0021 GMT, the Nikkei 225 average was down 90.98 points or 0.65 percent at 13,995.87. Nikkei March futures were down 130 points at 14,020. At 0029 GMT, Hitachi was down 20 yen or 2.6 percent at 748 and NEC was down 24 yen or 2.06 percent at 1,141. ''Losses in semiconductor makers dampened market sentiment,'' said Masatoshi Sato, manager at Kankaku Securities Co Ltd. A rally in these high-tech makers had supported the Nikkei average in recent months. In the United States, the technology-laced Nasdaq composite index on Thursday plunged 83.34 points or 3.3 percent to 2,410.07, marking its third-largest point drop ever, as profit-takers took up recent gains on tech stocks.