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Micron Technology, Inc. Message Board

  • highlowsel highlowsel Apr 1, 2013 10:00 AM Flag

    Bid $9.77

    Getting yanked in classic fashion. Just opened a trade at this line. Let's see how it plays.

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    • Bid now .68. Market forces just ain't happy with the Elipida situation are they? They keep slapping the bid down and now the bid is breaking into the gap from ~$9.10 to ~$9.75. So long as it remains nervous I expect to see further downside into that gap. Bid now .66. I'm adding a 2nd tranche here, and will continue to do so in staggered fashion as this thing works itself out.

      • 2 Replies to highlowsel
      • Bid just got broken below .50. No surprise as it's been setting up that way. Of the ~30M shares in volume so far today ~18.5M has been sell side activity. The bid is basically back to the top of where it was on March 20th when it began to slid down to the $9.10 area. I won't be surprised to see the bid get walked down to that .10 area in the days ahead. This is not a pleasant prospect, especially when you consider it's already fallen ~5% in one day. Bid now at .46 and getting hammered via the sell side tactic all understand who've followed this equity for any length of time.

      • Bid now .61 and still classically weak. Looks like the magnet might be the .50 line...which will take it about half way back thru its upside gap. Nothing like a little appeal to make the bid go nervously south by about 3.5%, eh?

 
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