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

To: Sridhar Srinivasan who wrote (45803)	5/14/1999 4:45:00 PM
From: DavidG	Read Replies (1) \| Respond to of 53903

Sridhar, It is not fundamental analysis rather plain ol' mumbo jumbo technical stuff.<g> The following 3 year graph will show you how the 36 level was support during '97 and resistance during '98 and probably will be support during '99. iqc.com The reason why I don't like PUTS here is for many reasons but certainly b/c very few make money on PUTS. The specialists seem to have an uncanny ability to steal the premium from you when you least expect it.<g> If it doesn't go below 36 the time value will get you quickly. Of course the inverse is true but IMO least probable ....but if MU breaks 36 the PUTS will appreciate rapidly. My suggestion is to short the box as it approaches 36 but set your stops tightly if the short doesn't work out. At least you will have a position at the 36 break. Otherwise you have to wait for the uptick rule. Also During a breakdown below 36... trying to buy PUTS the Specialists will eat you alive.:-) Next week who knows.<g> Depends on whether the panic dissipates. I thought MU would close positive today and was wrong.<g> I believe the late day downgrade of DELL by Prudential impacted the techs. Nothing like kicking a guy when he is down.<vbg> Also I believe open interest is above 40 but not sure since the CBOE site is bogged down right now so can't check. DavidG