I would agree with you and it appears the market does also. The economy is not doing well. Transportation stocks are all in the tank for a reason. Usually they are the first to go then the rest of the market follows. Mind you this is a different market than we have ever seen. Companies miss and warn yet many are pushed by analysts to buy and they continue up. The money being printed just goes into the market not into helping those that really need it. One day it will turn around and we will have a serious drop in the market. At present the printing of money is keeping this market at all time highs because financial institutions are shorting a number of sectors and still long in other sectors.
Maintains the equilibrium. GLTA
Do think you are correct. If it can not go up in this market it is certainly going to go down as the market corrects. Going to be interesting to see what it does today. Today could very well be the day you may want to sell.
Appears it will open lower.
I am interesting in seeing if we see a follow thru of the market selling again today. The fear of interest rate rise after employment data is having a negative affect on the market before open. Airlines up this morning, yet that may be a gap and trap. We will see.
Merrill Lynch has some positive things to say regarding MU after tech conference.
They are positive with a 40 price target. We will see what happens.
WIll probably close in this area near 27. Big money uses MU for option plays. Lots of options in the 27 area. As long as it stays near the 27 they will do fine. Good news out yesterday yet it stayed near 27. Looking for the same today. Definitely a money loser for longs as they have been holding this waiting for it to go back to 30+ so they can get out. Not looking too well unless some one buys it. Too big a market cap for that. Company is a good trader for wall street.
Volume is not even heavy. Lack of buyers makes for a nice fall. We may be seeing the beginning of a correction. Wall street seems to be short more and more stocks.
Wall street says to buy and gives price targets of 40-50. Wall street decides where the stock goes with their money and it continues to fall even with a P/E of 8. Many companies losing money while they are trading at far higher prices. I anticipate that MU makes a new 52 week low next week. I am not an owner at present. Finding this like the coal stocks that I followed for 2 years and wall street continued to upgrade while they continued lower. Of course we know where coal stocks are now. I do not see MU going bankrupt but I see the same deceit in MU as there was in coal stocks. So what does the SEC folks do. My research says that they do things other than their job which I will not share on the board. Then when firms like GS, JPM, MS are so overt in their manipulation they may pay a 30 million dollar fine for the few billion they made illegally but do not have to admit to doing anything illegal. I only say this so folks will be careful as this bull market gets longer in the tooth. Of course I may be totally wrong and they run it up to 30. We will see.
You are very accurate that the memory chips are not going the way of coal. I am not an investor at present. I am a trader. I was investing in 2009. I bought BTU in 2009 with plans to hold it long term. I sold it in the middle of July 2011 when it couldn't move over the previous March high and was aware of power plants that were discontinuing the use of coal. The hand writing was on the wall so I sold but will admit I continued looking for an opportunity to buy back. My thinking was that some would go out of business and the best could continue with all the coal that China was using plus India using more. The more and more that I studied the situation the less I felt that there was going to be a turn around. Some healthier companies were lending to those that looked like they would be going belly up.
It was too risky for me. I liked MU and purchased earlier as an investment. Last year when the volume was less and the analysts were calling for much higher prices there were so many shares always on the offer. With the market being up for nearly six years I decided to sell everything at the end of the 2014. This year I have only been a short term trader. I have been watching MU for 5 months. I have traded it a few times and admit I have not made much. Obviously you are an owner and I hope it does everything that you have shared and you do very well. I am concerned that we may have a market correction and MU is still in a downtrend so I am going to wait. It could make a new 52 week low next week. Wall street is making a lot more money on the short side now and I find that a warning sign. In 2007 I felt the same way and went to cash and only traded until 2009. I was out a little early in some stocks on the way up and was in a little late in some stocks on the way back up. I could be right out to lunch and the market will go up for another 2 years. If It does you will probably do much better than I will and I will be happy for you.
This is what happens when wall street is in control. You nailed it when you said that they were short. If Wall Street is short you do not have enough buyers so the direction is as you see. Look also at KSS. Beginning to look a little like 2008. Wall Street gets serious about shorting and stocks fall quickly and continuously. Lower highs and lower lows. For 5 months WMT has continued to do this and if closes here it will be a 52 week closing low. It traded a little lower one day in October but finished above this price. Happy trading and be careful.
They continue reiterating the same news. Estimates lowered with stabilization in second half. Wall street making more and more money on the short side.Retail folks that are stuck in MU from 30 continue to talk positive while wall street keeps moving it down whether positive or negative talk. Fundamentals with low PE may scream oversold but wall street ultimately moves it in the direction they want.
They ship a lot of oil via rail. There has been a very big cut back on the amount of oil being sent anywhere. Rail has had a significant cut back so their profits and revenues are lower. Consequently their stock price is going lower. Shipments in Canada and the USA are both down significantly.
I do not want to be discouraging but if wall street goes short this market these rails will go much lower very quickly. At present they are short only particular sectors. I know rails have fallen fairly quickly from March yet one needs to remember that the market has continued up to the highs. If the market corrects a bunch or even goes into a tailspin these rails will get hit hard still as in 2008.
He did provide a way that some folks that bought at the end of the day Friday could get out with a profit before it continued down.
We know that earnings are not going to be as good this quarter. Wall street taking advantage of the short opportunity. Wall street trades this stock. They cover and go long and it moves up for no apparent reason.
They sell and short and we hear about lowering the estimates again but 2 H to be better. Those that are long are hoping that the lower earnings will already be priced in and the guidance is good. I am waiting for earnings and guidance. There have been a number of sectors getting hit hard with shorts. INTC buying ALTR puts the hope of a purchaser for MU on the back burner. Will wait to see what wall street does with MU. GLTA
I do not know whether it is time to get out or not. I do think that it is going lower though. Now analysts are saying that we go to 23 then we go back up. Basically they are telling longs to hold longer because it only goes another 3 down and then maybe back 10 or more. They first part is probably true so they make a little more on their short. It is going to 25+ today and this market is selling off.