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Micron Technology, Inc. Message Board

  • kranepool21 kranepool21 Oct 25, 2013 11:12 AM Flag

    question to high low sel

    do you still have your long term tranche in MU? also CNBC put a sell at $16.50(some analyst) 2 days ago..opinions there? thanks

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    • Krane: Yup, still have the long term tranch from late 2008, early 2009. Its cost basis is stupid cheap. That said my ~out area for it is the $15.50 line. Why there? That's about where the uptrend line from ~$9.10 (5/2/2013 date) that I've had set up and been tracking against for the longer term stuff. The bid has remained consistently above that line since I put it in place on my charts. Should the bid be dived to that level and then break it on volume then I'm out. Until then it's a trading game for me with such monies as I use for such with MU.

      Meanwhile I see the sell side action is still dominating. Head fakes were run to pull in buying into which the bid was head-butted back down. Now at $16.69 and still looking punky. Looks like the action is trying to take the bid to the $17.41 downtrend line which right now sits at the ~$16.60 area. With the bid now at $16.68 I'm waving a lowball offer down just below that line...MU always overshoots when it's on a tear, both up and down.

      Bid now $16.66.

      American Net'Zen

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