Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: John Graybill who wrote (44361)	3/25/1999 8:55:00 PM
From: John Graybill	Read Replies (1) \| Respond to of 53903

Here come de downgrades...here come de downgrades... March 25, 1999 20:43 RESEARCH ALERT - Micron estimates slashed SEATTLE, March 25 (Reuters) - NationsBanc Montgomery Securities sharply reduced its fiscal 1999 and 2000 estimates for Micron Technology Inc. Thursday based on expected further declines in chip prices, an analyst said. For the current year ending Aug. 30, the brokerage cut its estimate to $0.05 per share from $0.22, analyst Jonathan Joseph said in a report. For 2000 the earnings estimate was cut to $1.30 a share from $2.35. Joseph said U.S. spot prices for 64Mbs memory chips are in the low $8 range and "should head rapidly to the $7 range, a new low." The brokerage retained its hold rating on the stock. newsalert.com

To: John Graybill who wrote (44361)	3/26/1999 7:24:00 PM
From: John Graybill	Respond to of 53903

Miscellaneous notes from today's tape-watching: - The 47 1/8 close looks painted, a 100-share trade well after the close that was out of the previous range of 46 15/16 - 47. For that matter, 47 looks painted as well. There were three previous sells at 46 15/16, each of over 20K shares, and 100 shares at 47 posted at exactly the same time as the last sale. I don't buy it, so to speak. - There were single 300-contract sales of both April 47 1/2 puts and calls at about 3:24 with MU at 47. Both options were about 3 1/2. Looks like somebody wrote a strangle, pocketing a nice piece of change (over $200K -- you go, girl!) and betting that we close at 47 1/2 on expiration so he can buy them back cheap and keep most of that $200K. He's a loser on expiration day if we close more than 7 points away from 47 1/2. - There were a decent number of big-block sells in the last ten or fifteen minutes. - As yesterday, MU defiantly ignored a rather substantial market-wide buying episode. Today's was at 3:20, and is quite clear on the index chart of your choice. Didn't see any big blocks coming to MU at the time though. Have "They" programmed-out MU from the automatic buying? Ah, a short can dream. I'd love to be a fly on the wall at some of the funds' offices tonight, the ones still gritting their teeth and holding MU and RMBS, as they ponder today's teaser for the all-new thestreet.com / Fox TV special, "When CEO's Attack (each other)". Man, how many ways are those guys out of control? I called a colleague and started to tell him the story, and he thought the combination of host and guests was the howler until I told him I had more. Irony indeed -- the unseemly chumminess was the second most amazing part of the story. :-)