Many undercurrents occurring in MU
please add more info from your facts
1. profit taking in SMH ETF (and markets in general),
MU is in that ETF (5.03%) so it is affected.
2. Markets may be resetting price levels for April earnings which will be weather challenged,
Despite international news, company earnings and future forecast drive stock price.
3. MU is a very shorted stock, 5 days to cover I believe,
Falling DRAM prices generated thesis MU earnings will be affected.
Jan 31st Seeking Alpha article saying MU is over-priced or fairly valued.
But NAND demand out of sight,
New foundry coming - but demand is completely outstripping supply,
This is a demand story, companies like INVN catching the cell phone ride up.
4. Analysis indicates that next earnings for MU will be good and positive news, not bad!
Some say blow the doors off, so buy leveraged....
Well I took that with a grain of salt.
Upgades trickling out of buy side firms.
5. Shorts want to make their money before earnings and they drove price down, probably talked
long fund(s) into selling, maybe to buy back lower.
Did you notice 9:31 to 9:45 action today (Friday 14 March)?
Big commercials houses buying ES and futures, Solomon brothers bought big at 1040 ES
Market makers in Chicago caught short not long
Stock prices and Ticks going up and MU stuck at $24.00 - being held down
by the manipulative shorts. There was buying at $24.00 but no pop.
Later when markets falling, MU price brought back up.
6. Good news is on earnings day Shorts and big Funds are passengers in the back seat of the
MU company car, just like us, being taken for the company ride.
My bet is that will be a very scenic ride to the Hills and maybe Mountains.
disclosure: Hedged long
Looks like the option values for the week of 3/14 are going to be pretty much destroyed by the MM's.
The OP price for 3/22/14 is holding at $24. I expect that they will run this up to about $24.36 and back down to $23.70 area for next weeks option expiration.
But look at the bright side. The OP price for 3/28/14 is $25 and the week after is $25.50. Just goes to show how much this stock is moved by the FORCE!
Sentiment: Strong Buy
April 3, 2014 2:30 PM MT, 4:30 EST. Straight from Micron's website -- Investor Relations page
That's actually a short time to wait for such big returns. This is going to be one of those earnings then up price acceleration patterns instead of earnings then selloff like we saw two quarters ago.
Anyone else notice the volume and the PE is pathetically small for a big profitable company like MU with growing FCF?
The volume is also ridiculously small. Last hour had about 2 million shares.
The slow rise... Assign the blame for recent slow price rise to options. News of any kind re MU earnings will accelerate institutional buying, doubling volume and take us over 25 fast. The roughly 1.00/ share earnings will hopefully result in a multipoint rise like we have seen before after a period of basing.
Bought more MU yesterday under 24. :) Thank you Vladimir.
Putin is simply a reflection of Russian orthodoxy...this being that somehow Russia, in a quasi-mystical religious way (if you've read any of his speeches and thoughts on the matter), is destined for greatness and rule over "lesser" nation-states. I'd say that's a scary enough thing excepting....after all....to quote the late (great) George Carlin....bull hockey to that! That's OUR job! Heh!
Bid now $24.07 and following yet again the downward side of the 'coaster ride.....seems like round and round and round we go on it, eh?
Might be some support once Putin stops #$%$ with the world. They are hitting his market again I hope they destroy it that will make him back off from whatever his final goal is. MU is hanging in there for now.
Might be some support once Putin stops f-ing with the world. They are hitting his market again I hope they destroy it that will make him back off from whatever his final goal is. MU is hanging in there for now.
Shorting now to me would be dangerous. At any second today MU could catapult up 5-10 cents beginning the move to 25.50. In fact we will not only reach 25.50- we will break through to 25.60 before close. I blame myself of not selling this morning or end of day yesterday, knowing we would likely retest.
So far it's tested the low end (~$23.70) FOUR times in the last two sessions. Let me say this again...FOUR TIMES! Each time with wild wide bounces...just like now the bid is at $24.21...maybe it's now breaking back out to the upside after the chaos but I wouldn't be betting on it just yet....But by the same token I can't short it here at (now) .23 either for the very reason is the pps chaos is high and its swings are too quick....so I'll just sit here on my monies and let this chaos work itself out into something a wee bit more predictably stable. In the time it took me to write this the bid is now.....$24.18...
If Sandisk is successful in their lawsuit against Hynix and gets an injunction on their product, so much for the weakness in NAND prices. I would venture to guess that even when a company is qualifying product like Micron is now prices would stay firm if not shoot up. Poor Hynix....... first the fire, now this. My momma told me you shouldn't steal!!!! This from silicon investor board regarding the ex-Sandisk employee/thief.....
Sugita worked at SanDisk-Toshiba from February 2003 and resigned in June 2008, where he analyzed defective products and had access to trade secrets related to NAND flash memory designs, devices and manufacturing processes, according to the document. Sugita allegedly stole trade secrets in May 2008, including “SanDisk’s most sensitive and valuable flash memory trade secrets.” The 10GB of sensitive information that was downloaded is said to have included data on research and development, design and circuit layouts, process technology, tools, testing, device and business information.
After leaving SanDisk-Toshiba, Sugita commenced work for SK Hynix in July 2008 and was employed there until June 2011. But it was only in January 2014 that SanDisk-Toshiba learned about the trade secret misappropriation through an informant aware of Sugita and SK Hynix’s activities. Despite signing a non-disclosure agreement after leaving SanDisk-Toshiba, Sugita allegedly delivered “substantial technical, operational and business trade secret information” which SK Hynix used despite “knowing that it was acquired by improper means,” according to court documents.
Sentiment: Strong Buy
These are the last two day's lows. 23.60, 23.72, 23.70, 23.73
Go back to March 1 low: 23.71
My general point is the market is giving us a downside support proven bankable. On the upside, well there you have some folks saying we're going to 26, 29, 30,32, 40, or more.
See at today's close of 24.48 with after hours trade taking us to 24.50.
Funny how they can do that while the market was essentially flat in the first half hour. I believe the Kerry Russia/Ukraine press conference may be the biggest key today as silly as it seems. The were shorting MU below $24 earlier so if the market does move up later you may see a little extra buying. Zacks but a strong buy on this yesterday and now you this steady weakness in the shares. This market is so contrarian at times.