Micron Technologies (MU) SHORT Today the markets, led by the semiconductor sector and the Nasdaq market surged higher. However, MU sat on its ass all day and could not really put anything together. It was the weakest stock in the Semi Conductor Sector and has broken its uptrending daily momentum. Using this break of trend and its relative (dismal) performance today MU should be a good short term trade as a short IMHO. Brandon
Amazing isn't it? The only problem I see here is that the SOX is strong...so it's always possible that they could start buying this one in sympathy with some of the stronger issues. Another way to trade this would be to short MU, buy one of the stronger ones...let's say INTC. OldTrader
Brandon do you have any entry, stops or targets? Is this going to be short MU and if it goes down 1/8 of a point net over the next year after going up 5 points and falling 5.125 points on the last day of the year the I told you it was a short play? I'm just razzing you now put some numbers on this idea for the people here at ET.
I know it is easy to be a Monday morning QB, but you went short after a doji(I think) followed by a gap up.
Also went short with daily stochastics at a strongly oversold level, which historically has been a long play for MU. There is still a lot of buying power out there for stocks that move into oversold territory, and shorting them is a good way to lose your ass, IMHO. This isn't 2002 anymore. But good luck, and thanks for posting the trade.
the stock gapped up and was strong all morning, why is this a short? I would have thought you would have posted this in your gap trade thread as a long. Whatever happened to that thread?