Trading Micron Stock - Selling MU (Again)

Tuesday, March 15th, 2005

Sold my MU (again) today, this time at $10.15, for a $157 round trip loss. I sold it prematurely on it's way to the 5% trigger, it recovered later in the day. I'm rapidly running out of patience with buying and selling Micron, even though I'm convinced it's going to bounce at some point. They report the quarter at the end of next week (though past history is no guarantee of future reporting dates), and anything resembling good news could lead to a run-up. I also believe in Santa. My trading strategy of buying on hoped-for news is becoming increasingly erratic and desperate, will probably cut it off at the end of the week and wait for the market to catch up (ie, fall) to my level. As of today, the portfolio is down just less than 4% on the month.

Greenspan spoke again today, again without spooking the markets. He returned to lecturing the Senate on fixing the problems with the deficit now because it will only get harder in the future. I guess the markets like that, but it won't help any. The looming drag at this point is that the Fed will be forced to raise interest rates, which will make it more expensive for the government to borrow money, and further squeeze the amount of money available for anything other than entitlement programs.

Starting Portfolio Cash on 2/14/2005 was $25,000
Symbol/Index # Shares or Cash Purchase Price Day High Day Low Today's Change Closing Price Closing Value

AMD 200 $17.13 $16.31 $16.69 +0.08 $16.44 $3,288

SYMC 100 $21.19 $21.26 $21.05 +0.06 $21.17 $2,117

GM 100 $34.24 $34.34 $34.11 -0.01 $34.33 $3,433

Portfolio¹ $15,171 N/A $24,009

Dow Jones (DIA) 230.251 $108.45 $108.16 $107.58 +0.30 $107.81 $24,829

S&P 500 (SPY) 206.254 $121.21 $121.16 $120.28 +0.75 $120.38 $24,986

Nasdaq (QQQQ) 658.241 $37.98 $37.36 $37.03 +0.17 $37.17 $24,579

Losing Money | Israeli Stocks | Hardware Stocks | Software Stocks