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Harley,
I don't know if I would have taken a short position in Mu so soon.
But....this is the third attempt since June for this stock to crack and stay
above 34.38 for at least 4 days. It failed the previous two times. If MU
passes 34.38 and fails to hold, I would easily short it as it passes through
34.38 on the way down. As Gann used to say (with apologies for paraphrasing)
three tries and you are out. If however, it remains above 34.38 for at least
four days, I would close my short position toot sweet. In any event, good
luck to you.
Jim
-----Original Message-----
From: Al Taglavore <altag@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
Date: Saturday, September 26, 1998 1:12 PM
Subject: Re: Yahoo - Intel May Take Stake In Micron Technology Inc., Reports
CMP's Electronic Buyers' News
>Harley,
>
>If you would look at the Shark 32 formula, it might cause you to rethink
>your MU position and go long. It is a textbook example.
>
>Al Taglavore
>
>----------
>From: Jim Greening <JimGinVA@xxxxxxxxxxxxx>
>To: metastock@xxxxxxxxxxxxx
>Subject: Re: Yahoo - Intel May Take Stake In Micron Technology Inc.,
>Reports CMP's Electronic Buyers' News
>Date: Saturday, September 26, 1998 11:01 AM
>
>Harley,
> That's a rumor that makes a lot of sense to me and you're asking for
>trouble by fighting the tape. MU is in a Short Term Up Trend Channel
>(STUTC) and is trying to complete a CANSLIM type cup and handle formation.
>it could really jump if the rumor becomes true.
>
>Jim
> -----Original Message-----
> From: Harley Meyer <meyer@xxxxxxxxxxx>
> To: Metastock list <metastock-list@xxxxxxxxxxxxx>
> Cc: Alan Kwong <alankwong@xxxxxxxx>; Joe Frabosilio <joe6964@xxxxxxxx>
> Date: Saturday, September 26, 1998 12:22 AM
> Subject: Yahoo - Intel May Take Stake In Micron Technology Inc.,
>Reports CMP's Electronic Buyers' News
>
>
> I now know why MU was up so high. Rumors - They
> are a pain when you have a short and the rumor
> takes the other side.
>
> Harley
>
> http://biz.yahoo.com/bw/980925/cmp_media_2.html
>
>
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