off the $16.60 iine. It's really kind of funny, in a perverted sort of way, to watch the sell side intraday action. They keep running a capping and jamming action against the bid. Almost 1hr to go...and typically MU breaks one way or the other, quickly, in that final hour.....usually beginning with ~45minutes left. Let's see if it keeps capping and jamming of if one side stands aside and lets the other run "amok."
Bid now $16.72. After a false start off the second bottom (that included a repeat test at open this AM) it looks like kind'a maybe sort'a there's a turn occurring? But this IS MU so let's see how it plays.
What is your take on all this? Do you agree it is large force manipulation to prevent 17 Calls & perhaps 16.50 Calls from getting exercised? This is a really sick scenario, and there is no way to play it. We started the day at 16.99 w/DOW at around 20. We ranged mostly in the 20's & 30's in the DOW all day, yet this stock now at 2:45pm is, with the DOW at 44, at 16.52. \
I wish I could just get out of this nightmare of a noose around my neck. This stock has done nothing but lose me money, no matter how I played it.,
If you have a sizable position in the red, and you're watching the action tick by tick, then you are going to drive yourself nuts. All I can say is the action I'm watching is NOT unusual for MU. I haven't been able to figure it out, but my rumination from watching the action for longer than I care to admit is that somebody (s) with sufficiently deep pockets doesn't trust MU and is basically playing them trader style, but LARGE trader scale. And if not, I can only add that they clear do not trust all the fanciful earnings calcultions of future this, or fat future that. Where MU is concerned they are strictly driven by show me the MONEY fixations. This usually comes from managements failure to properly stroke (heh) Wall Street combined with being burned large at some point in the past.
Just ruminations, of course. 5 minutes left and look'it THAT! Bid $16.55. Well...if they're gonna bust a move they've got 5 to do it in....