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NWAC, AMAT and MU



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NWAC is still in the lower 27s. No changes have been made.
AMAT is flopping around the lower 25s. No changes have been made.
MU - I added 100 shares short at 31 1/4. I read last night that the
Merrill Lynch analysts has down graded them. Also from a technical point
of view they are slightly over bought. They gaped up today like many
stocks and then traded lower. After some patience starting at 30 3/16 I
watched it move up as high as 31 3/8. I placed an order at 31 1/8 but
was filled at 31 1/4. Currently it is in a trading range around 31 1/4.
It may go higher but I will position trade it as usual.

I still have some cash on hand so I can manage the draw down. I am also
expecting the market to move lower before the week is over at least on
profit taking if nothing else.

Harley