"Democrats= Friends of Big Insurance." Shyte and the Republicans ain't? Jeeezus get a GRIP! You'll see BOTH PARTIES are in the pockets of private business interests where the medical industry is concerned. Or have you not visited a hospital lately?
What your little epic does not reveal
is that the lovely pond where your ducks did alight,
was already settled by mink, beaver
and many other wild denizens
all of whom had made their pond a paradise.
But they, unfortunately for them, were trusting and easy to fright.
Easy to shove away from their pond by claims of "discovery"
by those ducks with their self-centered eye.
But regardless with this story you are quite right;
it has no end and only one aspect that cannot be denied.
The power of ownership comes only from craftiness and might.
Same as it always is.
Others have already given some cogent commentary on your question. The honest answer to your basic question, that being when to get out, is....who knows? If you'd asked me this question 1 year, 2 years, 3 years ago I would have given a different answer at each juncture. Errrr...if forced to give an actual "out" target pps. The answer is always predicated on the known market action and reliable, publicly available, information at that time.
So what to think now? Well, to my mind you touched on an important aspect when you mentioned Einhorn and his ilk. One has to presume that them jumping in now, as opposed to a couple of years ago, means they see a robust future for MU and are betting on such with their (and their clients) hard earned/won capital. They're not the in/out/in/out trading types, per se. So from that perspective one could be forgiven for seeing a lot more upside than not longer term.
That said, from a more immediate point of view, I'm watching the $20 line and how the action is conducted on the intraday. I don't get the sense of any sort of blow-off top. It gives the appearance of a bit of consolidation though this being merely the first close north of $20 do not a defined trend (above $20) make. We may see more of it. Indeed, on a 1yr TA chart the stoch's are screaming overbought. But even so we're in what I've earlier called "flying by the seat of yer pants" area for the pps. There's little historically substantive from a TA point of to hang your data analysis on, so we're forced to a day to day "keep a close eye on it" monitor.
Bid now $20.28. I think the highly technical term for what happened in the last half hour is....Ker BLOOOOOIE! Without indulging to much in hyperbole I'd say we have lift-off. ;-)
Jerry: When? Well, with this sort of trade I adhere to a +10penny rule wherever possible. So with the bid now at $19.82 I'm locking it in with a stop just below .80. This is to allow the "winner" to run....if it continues apace I'll ratchet the stop accordingly.
Marnis: LOL! While I hear what you're saying I've also gots to point out that context is everything. Woulda shoulda coulda's always look good (or bad) in hindsight. Profit is profit regardless how gleaned, and decisions made in the moment are often-times better when playing this sort of game. It all adds up so long as you're winning.....'course...it all subtracts when you're not. ;-)
Well, it went from $20.05 right after open (it got walked from ~.89 to $20.05) right smack to ~$18.83. And in the time it took me to blink the bid went from there to .91 and now back at .86. In other words...MU is be managed by 'ol Lucy in usual fashion. She's driving it all over the map right now. Bid just (again) hit .83 and now is .86. It's opening stuff like this that usually keeps me firmly on the sidelines for the first 30, unless there's a completely absurd dislocation that occurs at opens.....you simply seldom hit your mark when the bid moves around like this. Best to let it settle the frack down...
This out at 06:50; BAC downgrades Micron Technology, Inc from Buy to Neutral and maintains $20.50.
Seems like a valuation call to me if they're targeting $20.50 as a 52 week objective. Hmmmm...not sure I go along...but funny it's BAC (from my point of view). I've been playing their equity heavily in recent sessions and made some nice profits of late, too. So it goes I suppose.
PM last $19.74.....
Nah...never quibble about a profit. There is always a next time in this game. Just be patient and play your game according to your risk profile. Bid now $19.92 and, not surprisingly, pulling back in. Let's see how the final 30 minutes unfold.
Jerry: I'll be surprised/pleased to see MU close north of $20. An equity rarely goes on to close north of a major milestone on the first go....and now that we're in the final hour I won't be surprised to see a certain mindset of folk locking in their gains and so driving the bid back below $20. But it's all good as the longer term future appears uber-bright. My only concern is we're now in such rarified atmosphere where there's little TA history to go against...we all be flyin' by the seat of our pants from here on out.
Or maybe better said how's the view from the ridge of the mountain with the top many meters still ahead? ;-)
This event is significant. Let's see if 'ol Lucy let's Charlie gambol and dance in the end-zone without yanking the ball...
Bid $19.96. Here it comes......do party balloons and confetti fall down from the ceiling if/when it happens? Or will my machinery explode?
What Einhorn is indirectly saying is you, me, everyone are bearing witness to one of the largest transfers of wealthy in history, to the asset bearing upper class from the middle and lower.