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

To: Skeeter Bug who wrote (45762)	5/12/1999 6:20:00 PM
From: DJBEINO	Read Replies (1) \| Respond to of 53903

12-May-99 11:55:31 Micron Technology's I-Watch chart is broadcasting bullish indications from the pre-trade institutional market. The chart shows that institutional brokers continue to stream to the market with offers to buy blocks even as Micron trades at its intra-day high of $40 5/8 with a gain of $1 5/16. Typically, as a stock's price rises sharply, new bidders drop out of the market as the price becomes too steep for their liking. Conversely, the higher prices generally attract profit takers to the market - MU's chart shows a few sell super messages at $40 1/4 but the volume and frequency of the messages suggest the seller is unlikely to influence the current driving force behind the buyside. Watch for a bigger showing in the pre-trade market before the stock's move higher trails off or look for signs that the price has advance to far for the bidders. For now, momentum remains on the side of the buyers.