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Market rally continues — the last month’s action has been practically straight up with little pause. The bears/shorts have been crushed, but few bulls were really long at the bottom either.
Micron reports earnings after the close. $MU is trading at a FY 2016E P/E ratio of 25.5x, FY 2016E EV/EBITDA of 3.7x, and FY 2016E EV/Sales of 1.1x. The question with $MU is whether it has any chance of meeting those forward earnings estimates. Expectations are very low but the results could be even worse, I suppose. I don’t have an edge on that one into the earnings report. I don’t like the stock long-term though, as Samsung and Korean competitors are running ahead of Micron and cutting prices faster than Micron can stay up with.
I might go ahead and take some more profits and/or nibble some more puts for hedging purposes in the next day or two, but mostly I am still listening to Jesse Livermore and letting my sitting continue to work for us. Someone is posting Jesse Livermore quotes every day on Scutify here, so check that out too, by the way. See you at the chat.
@Spekoliunas interviewed me for an article he published in Lithuania. Coincidentally, I spent a few months living in Vilnus and in a remote cabin without running water in northern Lithuania back in 1997. Lithuania one of the prettiest places on earth and full of nice people with a tech-savvy edge.