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It appears that nvda trashed mu and your amd also! Sucks for all of us! Now we can hurry up and wait for them one day to move higher! JMO
Getting mighty close to that 50 day. Looking for a break soon.
In Declining Order of Fear
$SPX, Max Fear ...
Not even close to breaking higher out of its declining fork. Check backward and see how many Fridays it closed lower than it opened. Should it be any different tomorrow?
MU, next highest fear ...
I think it would be trading outside the top of its fork if it were not for the negative total market, but it wouldn't be much higher.
SMH, semiconductor index ...
Already done correcting and eager to go higher. Maybe too eager?
AMD ...
Cleared the fork and closed higher yesterday. Opened today pennies below yesterday's Close; made a small sympathy bow to the whole market then headed higher. What's not to like? If you have money laying around this is where it should be.
Maybe.
The middle tine of the fork will be support, but it gets might close to $34 in two weeks.
In the mean time I don't care because I'm all over AMD like ducks on a June bug. Mighty fine with a little mustard!
Pretty interesting that the semiconductor index rises today as the whole market falls. Looks like someone thinks semiconductors were oversold. Could be a good sign that the selling of semiconductors is done.
I think we might see the $34-$35 level within the next 2 weeks...
Pessimistic MU remains pessimistic.
I haven't owned it for weeks; but personally, it could be good for a double-bottom trade if/when it hits that red dashed line, but only for a trade. I wouldn't want to own it longer term yet.
It has a history of bouncing off the middle fork tine and that bottom at 34 has a little 2017 history also. The history for both the red line and yellow dashed line is at middle to late 2017, but the bulk of the history is at the yellow dashed line, so I might want to own it longer term when it hits the yellow dashed line (a 50% retrace back to 2017 June-July).
Nice post! Much appreciated! I was caught up in other things today and hadn't seen this. Thanks! Looks like there is still hope for my Jan. 46.00 calls! Sweeeet!! JMO
MU is probably moving higher on news today.
Previous months: moving lower on news.
Today; election news.
Also on these two (IMHO they are a big deal):
Micron Positions QLC to Lead Market Transition from Hard Disk Drives to Solid State Drives
http://tinyurl.com/y8rw3x5g
In that article, the following is a big deal: High-density Micron QLC 64-layer 3D NAND flash media achieves densities of one terabit on a single chip, enabled by next-generation cell architecture, and offers an attractive option to AI and machine learning professionals.
Micron Announces Mass Production of Industry’s Highest-Capacity Monolithic Memory for Mobile Applications
http://tinyurl.com/y9s2glye
Today's best sectors (last time I looked):
XBI, Biotech
XLB, Materials
XLK, Technology
XLV, Health Care
XLY, Cons. Disc.
does this thing ever move on news?
MU typical weakness fallback line.
The thin, declining, blue line in top image. Traders are afraid to hold it going higher. It is, more or less, a straight line approximation of a declining SMA(20).
That will continue until MU hits a defensible bottom, perhaps at next earnings report and forward guidance. Modified (pessimistic) fork shown at bottom.
Pessimistic MU:
Looks like short term traders who scooped up the mid 30s are cashing it in...
Back in Bull territory.
FYI: Stock Gumshoe just put up an article on MU; very detailed analysis. I don't know if it's free or has a pay wall. Some interesting "responding comments" also.
Micron expects around 20% bit growth 2019 and lower manufacturing costs.
Basically all the doom and gloom is yet again over rated
Know any reason for the jump this morning?
Dr. Doug
Trudging we go up higher from ugly lows!! Closed out one $36. Nov 2 call! Made money on this one! Only a few dozen mu calls to go!! LOL I'm trying to loose the curly tail!! JMO
We are up to whollering in the mid $30.00 now!
Looks like the lemmings are throwing out the baby with the bath water!! Even the kitchen sink has been tossed out! LOLOL All I can do at this point is ride it till the end! I have lots of actual shares which one day will make up for my lost $$$ in the calls I have had. JMO
Huh? Nice try what?
MU has been down for months, WDC is not the reason, nice try lol
WDC reported Friday. Dragging entire sector down
Struggling to even stay over $35.50 now, we can kiss the $40s goodbye for a long whiles.
Win some loose some, of course as long as I have my shares alls good! My calls may suck? I have a few Jan. $46. calls well see? Still plenty of time to make money! JMO
Not that long ago, posters were touting MU going higher into the upper $60s. Now headed to what? Low $30s?
Thank you JLS...
First have to wait for end of overall correction.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144460163
Sector doesn't know if it's coming or going right now.
Actually, it wasn't about a specific stock.
It was about the semiconductor index, which MU is in.
So, at this point, considering the sector has corrected by 20%, I think it starts trending higher.
That said, MU is oversold, but I'm not going to touch it even with a 10-foot pole.
Would luv to get this@ 32 or so,... this one will turn around soon , if ever it gets to 29 , i'll triple down!
AMD will its 30% drop is still 100%+ for the year...No i like positive you!
MU started it's decline months before the rest of the market & sector did. Eventually all the negative news needs to be baked in no? I would think they'd find their bottom before everyone else does. Good news is, the ones that fall hard first are usually the first to come roaring back. Once these "ANALyst" par back their ridiculous estimates of 40-50% annual gains & realize that 20% YOY is still freaking great, MU should make its way back to $50 IMO.
Advance Micro Devices cut off at the knees. Wow!
Apparently, should have known.
Shoulda, coulda, woulda. Down almost 50% from highs. Chances of 100% percent gains? LOL
Maybe I should turn negative again.
After the close there is a lot of commentary that is negative on chips in general.
That's the most positive MU post by you in a while haha
Ummmmmmmm ...
I think not because the semiconductor index tagged its bottom support line today -- which goes back 13 months -- and I think a lot of semiconductor investors who have already sold will treat this level as a Buy level. But I'll stretch it a little lower, to 87.50 because there is a ton more support there (middle of 2017). A lot of semiconductor investors don't want to miss a good buy point so they may not want to wait for a tag of $87.50.
If you look at earlier days you will have to go all the way back to the year 2,000 to find a level that tags the lower green line.
In other words, I think today was an exhaustion sell-off of semiconductors. Over a year's worth of gain is lost.
Technically, semiconductors are in a bear market (greater than 20% drop) and there was a ton of selling volume over the last two weeks, and the peak volume was over 20M shares on each of two consecutive days over two weeks ago (followed by two more days of selling at average volume). In addition, today's down volume totally wiped out (with room to spare) yesterdays up volume.
In other words, today's semiconductor trade looks like an exhaustion selloff.
You still don't think $20s is coming? at this rate, we'll see it Monday.
That $32.50 could hit by Friday.
Everyone out of MU by now, right?
That means you are sitting on a pile of cash and it's time to start selling those MU weekly Puts and making money.
You choose -- sell something in the range of this week's 35 to 36. Being Wednesday, this trade lasts less than 3 days. If you get assigned, sell Calls against those shares on Monday. If not assigned, sell weekly Puts again on Monday. You could make some serious change in less than 8 trading days simply by selling Puts.
Wash, rinse, repeat until MU stabilizes then go Long because MU is already oversold.
There is a tiny bit of support (red dashed line) in late September of 2017 (which was triggered by very significant resistance during several months in late 2014). For more recent and significant support look at Jun-Jul 2017 (which also links back to 2014).
just added a couple hundred more under $37 5 mins ago......the whole tech sector is way oversold, and the world is not coming to an end!!.........bargain prices, for those who have the stomach for it......we`re bottomed out, and great buying opportunity
$$$$$$$$$$$$$ micron $$$$$$$$$$$$$$....GLTA
at this rate $35 is on its way by Friday or tomorrow...I will never question you again hahahahaha
Guess I have to wait a year to get back to even. Great!
P/E of < 1 on its way.
MU has p/e of 3s and still dropping. It has pretty much lost all stock price gains made for entire year. A year's worth of gains wiped out and still dropping. Wow.
And yet more selling by insiders with cheap shares. How sad
Yes. I will do that.
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