And so it begins….The FED bumps rates, the markets are stirred, as they should be.
This has been a false market for some time and traders forgot what reality was. No more.
And today is MU …
MU may be a great trade. As I write this I am reminded of the lost continent of Atlantis and MU (which according to legend – MU preceded or was Atlantis). Of course this all has nothing to do with today’s trade, it just made me think a bit about the legend as I was writing this article…
Which goes something like this…
MU was the lost continent in the Atlantic, submerged by a cataclysmic catastrophe. The Land of MU – also identified with Atlantis sunk into the Ocean due to folly from some advanced technology gone awry. Their technology outgrew their moral capacity – and it killed them. Nuked into oblivion.
Okay – that’s a bit of stretch for an analogy today but I could not resist. Forgive me – but we are in a bubble and the loss of 5000 points on the DOW would seem to those pension fund managers like the Continent is sinking.
We who trade jumpers for a living… love it. And we want the return of a REAL STOCK MARKET, Not a fake propped up Bernanke-Yellen-Obama b.s. thing that makes no sense. So yes Jerome… you go for it. I’m sure the guys at Goldman are laughing their asses off… After all we are all Muppets to them.
OK so MU. Let’s look at the numbers and why this is such a great Jump trade.
Micron (MU) is trading at all time highs. We rode it up and know how depressed it was 2 years ago. The weekly chart looks big time overbought… BUT when you consider the P/E ration of 9.63.. its really still cheap.
Micron Reports Earnings Today Against Its All-Time High
MU shares closed yesterday at 61.07 – up 48% riding that bull. Analysts expect them to post an EPS of 2.69 – 2.81… and they have a history of beating which means there is more upside. BUT I caution you to remember what happened with Oracle on Monday. They beat huge also, and yet the stock crashed… due to disappointing cloud results. The markets oh fickle they are.
But we have it dialed in for our trading partners and members here.
Get Your MU Jump Report Here
Expectations are running high for Micron Technology Inc. earnings as the rising price of memory chips doesn’t show any signs of slowing and demand from data centers appears to be outpacing supply efforts.
Get Your ‘MU’ Jump Report Here
MICRON TECHNOLOGY Inc. (MU) will be posting its FQ2-18 quarterly earnings results today at close. [MU] is expected to post earnings of $2.76 per share on revenue of $7.22 Billion. In the last quarter, the company reported $2.45 earnings per share BEATING the analysts’ consensus estimate of $2.19 The stock is currently trading at $58.75 per share
Last 3 Quarters – “Jump Zone” Move: 6.41%, 8.68%, -5.59%
*They BEAT the last 4 quarters in a row/…. but the expectations are much higher today.
MU – last 4 quarters of earnings releases
Ahhh – smell that volatility. Smells like victory. Of course it helps to know the direction in advance, now doesn’t it?
Note to self: We got our asses kicked on GUESS last night… so even though our trajectory analysis is amazing… its not 100% .