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Hi Al,
I actually saw the chart of the Shark-32 that was sent to the MS list.
I am using your basic Edwards & McGee support & resistance and the next area
of resistance is 36 1/3. I would expect a pull back at that level if it gets
there.
Like I told Jim I am concerned and I feel like I am between a rock and a hard
place. I am down $300 if I covered (a rock). If MU's earnings are poor then I
feel I lost $300 for now reason ( a hard place). But if their earnings are
good then I have more chances of losing more money (the risk). And of course
we have the FOMC on Tuesday with a possible rate cut.
Now I can't go long because I would feel real stupid if they took $300 on the
way up and $300 on the way down. Hence a rock and a hard place. I guess if I
covered and lost $300 it wouldn't be the end of the world.
Harley
Al Taglavore wrote:
> 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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