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Strategies & Market Trends : P&F Gatherings -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (253)	5/15/1999 9:08:00 AM
From: Ben Antanaitis	Read Replies (2) \| Respond to of 2909

JXM, FWIW The MU MAy'99 Max-Pain Point&#153 is sitting at $45 for next Friday. While it currently looks like all the calls are going down, there is a sizable amount of put 'in-the-money' open interest. If the stock market world magically 'snaps back' next week I think there might be upside bias in MU due to Max-Pain effect..... Ben A. ez-pnf.com

To: Jorj X Mckie who wrote (253)	5/15/1999 1:19:00 PM
From: John Pitera	Respond to of 2909

Jorj, Mu has been in a monsterous downtrend since 80. It may have some support at 35.5 the area of late april lows. But the fundamental picture is said to be very poor, The Fleck mentioned MU negatively in his column just yesterday. so since MU is in a bear trend and the fundies look to be quite poor shorting MU may well be a good play. Of course there is a good chance for some selling on Monday...even Cramer was writing on Friday that with rates up near 6% MWD and MEr would be telling clients to sell stocks come Monday.....and he is a Bull's Bull on this market. John stocksite.com DRAM reality check... Lastly, I've received some emails stating that I quote the price of DRAMs but it doesn't seem to be what flies by on the tape. This morning there was something that passed on Bloomberg News claiming that the price of a 64 megabit memory chip was unchanged at 9.42 at its midday May 14 update. Well, folks, in the spot market, that part can be had for under $5.80, so be very suspicious of this kind of nonsense. Prices haven't been in the mid-9s for six weeks, but it does show you how fast prices have collapsed. Why Micron's (MU) stock isn't a lot lower is a mystery to me. Next week should be interesting, between the FOMC meeting, Dell's numbers and the option expiration. It ought to make for a lot of motion.