I've got 17 stocks & funds on my reader, some are down some are up but the majority are slightly up this morning. None of them are even close to down 3% but MU is! I haven't compared this to other chip stocks this morning but I think something is either just under the radar on MU or the whole industry. It's not the middle east or Ukraine. What's going on today?
"Micron, SanDisk shares fall on oversupply worries
By Benjamin Pimentel
Published: Sept 2, 2014 2:05 p.m. ET
SAN FRANCISCO (MarketWatch) - Shares of Micron Technology MU, -3.16% and SanDisk Corp. SNDK, -3.10% fell sharply on Tuesday which an analyst attributed to reports of an expected oversupply of DRAM memory chips in 2015. Micron and SanDisk each shed 3% in afternoon trades."
Big money just trading this stock. It had another upgrade and then a higher price target of 47 but the money that moves MU is short right now. There are a lot of investors in the stock but they are not buying or selling. That said there may be a few longs that are getting scared and are selling the beginning of September. These brokerages have billions to trade. That is how they make over 100 million dollars a day moving stocks. They win and we hopefully follow what they do and get a few scraps.