Sorry to hear it, Cheetah. Your posts have been welcome.
Think you're out way too early. I know you're an options player but consider buying some actual shares and holding for a year OR doing the equivelant with far forward options. I firmly believe MU will be at $40 to $50 and I hate to see you miss out.
I've considered selling my MU many times since I've doubled my money, then I do research and find no other stock that has such a low PE, such rich fundamentals and such great analyst projections. Only the chartists (max pain, etc.) project anything but straight up for MU. And the past several days have already blown their theories out of the water.
I feel that MU's fundamentals can even buck the "sell in May" theory because, in the years the markets do go down in May-Oct, investors flock to stocks with low PE multiples, like MU. Pls consider that.
Finally, if you're abandoning MU, I'd appreciate knowing where you plan to invest your $ in the next few months. Or, are you just going to short everything? Reply would be appreciated. Good Luck!
Hey thanks bud. I don't have very much luck shorting (Puts instead of Calls) so I mostly concentrate on buying long. I may just do what you're saying about long Calls on MU because I like MU's fundamentals too. The one thing I must say after reading some of the posts here re: using Fundamentals vs Technicals to pick a stock. Most people don't get it and completely miss the point about the two. They are used for two completely different reasons. You look for great stocks based on Fundamentals while Technicals are used for timing your buy or sell. Fundamentals = to help find great undervalued stocks, Technicals = strictly to help time your investment. The purpose of each should not be confused with the other. If MU opens weak tomorrow I might take a shot at a short term Put to "play the gap back down again" but I usually don't have much luck with Puts. I normally trade in lots of 50 to 100 contracts so even one dollar change in the price of a stock can mean as much as 10K. If MU closes the gap and drops anywhere $23 before moving up again, I may go with some longer calls as you suggest. My next move will be determined by where the market is in the morning. I still have 5 of 8 core positions to sell yet and then I'm out of everything until November except for some short term options trading I may do. In the meantime, good luck to you robert.
You are out too early, at least $5 short of where you should be safely. This stock just started trending up to the next earning call. If history repeat here the next high before earning should be above $30.
Sentiment: Strong Buy
100 shares? LOL I don't trade shares, I trade options. I made a Big bet on MU which turned into a 33% profit since Jan 21st so it was time to get out. I think it's more likely than not that MU will fill the two gaps that were created in the last couple of days before it moves further. Good luck tto you all!