|Day Low/High||45.77 / 46.83|
|52 Wk Low/High||28.39 / 51.39|
I am short Micron on fundamental grounds. Bruce Kamich gives a nice technical rundown on the name this morning - it's a worthwhile read!
Everywhere I go I hear the smart money is betting on a recession, that earnings will be down, but every day something contradicts these bears.
Last week's Trade of the Week -- Micron (short) -- is down by another $1 and is now almost $4/share lower than last Tuesday.
My Trade of the Week is long the iPath Series B S&P 500 VIX Short-Term Futures ETN , which closed last Friday at 18.64. * Last week's Trade of the Week (short Micron at $49.62) served us well, producing a nearly 5% return in four days. * Let's try t...
This week's Trade of the Week - shorting Micron - turned out fine (with a gain of almost 5% in an "up" market). Currently trading at $47.26, it was shorted on Tuesday's opening at $49.62. My rationale: * Semiconductor stocks are momentum darlings an...
* A "snoozer" * Good overall action in the face of possible snags in the U.S./China trade negotiations. * But volume is light and programs mainly moving the markets. * Breadth almost flat and little movement in the Indices. * Gold rallied (+$8/oz) a...
Micron's shares fell yesterday in a flat tape. Today they are down another -$1.50/share (nearly 3%).
* Breadth was slightly negative on the day. * Gold and bond prices were down bigly. * The S&P closed near the day's low -- but nothing dramatic. * Retail (Macy's +5%) and financials were upside features. * Boeing up off a well received CNBC (+$7) in...
* Semiconductor stocks are momentum darlings and are making new highs * I question the bottoming thesis Micron's shares have risen because of hope that the U.S./China trade negotiations will be resolved favorably. (I am less optimistic). Here are so...
Intel suggests the recent slowdown it's seen in demand from cloud clients is ending, and Amazon's latest capital spending numbers support this claim.
Do I want to buy equity here? I have enough exposure to the semis as whole right now.
A lot of investing is just waiting until the market hates good companies.
Fred Hickey was correct and the management of Micron , some technicians (who admired the semi charts) and the unusual call activity cabal were wrong - the semi recovery is not likely underway. My key takeaway from the large miss: 4Q2019 revenues gui...
As expected, Texas Instruments spit the bit after the bell. The sell-side's fave (and our short), Micron , should suffer collateral damage. There were other earnings high-profile minefields uncovered in the after hours. In looking at the bigger pi...
There is probably no group as loved today as semiconductors. I am short Micron and I have been adding all week.
On days like today you realize how much of this market has been mauled by the bear.
I was quite active in my trading and investing over the last two days (while I was on the West Coast and not writing in my Diary). Here is a summary of my actions: * I have added to my private equity shorts - (a new position) joins . * I have reesta...
The Chinese want to buy more soybeans. The U.S. wants real change. Sounds like there's not a lot of common ground.
With low price-to-earnings multiples, these stocks could be buys right now -- depending on your take on recession.
Several factors could set us up for a bounce play in a grossly oversold name.
'Bottoming' and 'bottomed' are two very different things.
Despite the selloff in this name, if you believe in a rally, you can bet that MU will be a leader.
A report indicated that Trump Administration officials are seeking ways to limit capital flows from U.S. investors into China.
Let's see what the trading into early next week brings before establishing any new trades in Micron.
Let's see how the semiconductor company opens, trades and closes before deciding if it is a buying opportunity or the start of a deeper decline.