Micron Technology (MU)

[JLS]

Should now be at bottom.

Nearly a 20% correction.

The latest cautionary report about memory prices (my underline for emphasis):

Twigg, who has a Sector Weight rating on Micron shares, relates data from research firm InSpectrum that, similar to Morgan Stanley, shows “material NAND pricing declines” taking place “through the first half of 2018."

Twigg cautions that the projections for NAND are preliminary at this point.

Why the underline? Because they are guessing, based on the timing of past memory cycles. They not only make projections, but it's preliminary projections. So they push the price down for their investor buddies and at the same time cover their asses with conditional statements so they can't get sued for market manipulation.

So now the dilemma: buy Calls now to profit from the earnings announcement and forward-looking statements three weeks from now, or allow MU to stew for awhile so that some of the time value of the options wear off. Or, start out with a narrow Call spread now to reduce initial cost then close out the short part of that spread (at a profit) at a later date and keep the long-Call part of the trade with its unlimited potential (but this doesn't work so well unless price stays relatively flat for awhile, and wears off time value -- which it very likely could).