If the futures are not down big I think this news may actually become a positive and shares are back over $30. I got some $29.60 if it drops a bit I may nibble a bit more. I have not been in this for awhile.
I agree as do many stocks but they need to string together a bunch of good to very good quarters do not forget this current one was OK after beating reduced numbers. If markets pull back the next week I still believe you can get shares in the $16's without question. Last night's close told me something MU did not participate with the late Fed induced rally possibly signaling a near-term top around $19.
If you trade the same stocks you know their tendencies always watching charts, recent ranges and any new news....Makes sense of course you need to watch moves like the on in MU too quickly usually means hot money hitting shorts and that money leaves quick in many occasions. Today I am shorting WLL each time it makes a new high figuring oil may be peaking for now and traders will take profits quickly on each high it has worked 3 times so far today.
Believe that if you will MU beat severely reduce numbers you cannot expect a giant move without better numbers the next quarter. Like a monthly jobs number the Fed does not base their decision on one number the same goes for earnings reports and markets.
Also Mac books are slowing if they are slowing I cannot imagine PC's will take off but like I posted earlier this a seasonally strong period for tech. One issue is how much of those gains were pulled forward in the past week and a half in this huge market rally? Either way markets are way overbought this rally was mostly Fed related positioning. Earnings will move the S&P going forward.
MU too far too fast in just 5 trading days since OK earnings the stock was up near $4 1/2 need some consolidation just like the markets.....GO CUBS!!!
Saying this oil rally will fade they do not want to be wrong I guess. I bet there will be some pullback it has moved big in a short time. I would like to see SDRL at $10 or better by November a near double from the recent low. If the Saudis ever capitulate oil would be above $60 quick. They are depleting their money reserves very quickly to hurt the world's drillers and producers it's just a matter of time before they give in.
Russia's economy is in the toilet must defective missiles. Putin has already denied they are their missiles.
Who cares party on with the Fed baby!! Just kidding earnings are what will matter going forward this Fed pop will fade soon and the market will actually start paying attention to the numbers both corporate and macro.
Stock was down pretty good in an up market move on Thursday. Makes you wonder how many were trading yesterday on the news of the downgrade out this morning. It's nice to be in the loop....insider info is alive and well more than ever.
We would need another 1880's or lower on the S&P to get the $14's again. I still believe everything has moved too far too fast in just over a week based on bad economic numbers and the Fed having our backs again. That will only last for so long I believe earnings season will dictate the next market move.
Seasonally it's a good time for tech but MU needs a better earnings report next time to send shares back to the mid to higher $20's. I think it's in a new $17+ to $19+ range for now. I think we can say it has bottomed for now unless we see s few flash crashes along the way. Markets have gone up a lot in a little over a week and I would expect a mini correction soon possibly bringing MU down under $18 which will create a nice buying opportunity again up here I think it has run too much too quickly.
Must watch how MU shares act tomorrow since highs were hit early in the day and after the Fed notes the market took off MU acted poorly. Possibly a near-term top for now. MU shares are up near $4 1/2 at todays high since they reported. Let' see if it is strong tomorrow or falls from this $19 level.
Putin is fighting ISSIS there too. Since the Russian economy is in the toilet possibly he is using defective missiles.
AMBA at $55 is a buy now as opposed to $100-$110 and higher like he was pounding the table a few months ago. He will never speak about this one along with so many others that cause him amnesia.