BY ANDREW GIOVINAZZI
September 27, 2024
Yo Pit Crazies,
Do institutions leave fingerprints? I think they do so we might as well follow the clues. Take a look here.
It is very true that Micron Tech Inc (Ticker: MU) is one of the grand daddy stocks in tech. Did you know that it was backed by the biggest potato farmer back in the day? I am old enough to remember when JR Simplot made more on his MU investment than he did selling Idaho potatoes to McDonalds Inc (Ticker: MCD). Either way, just when we needed it, MU came out with great earnings and the stock popped over $100 for the first time in a month.
MU 1 year chart
Does that put it on my Longshot List?
Let’s take a look.
MU is a great growth stock but not a Longshot lister
What I want is a stock that made a 1 year low recently. MU made a low for 2024 just a few weeks ago, but not for the last year. That was around the low 60s in 2023. MU does have what I like in a stock and am a long time shareholder but this does not quite fit my criteria for the Longshot list.
It is getting a nice 10% bump off of the bottom though which is part of the plan to move stocks off of my Longshots list into a more active purchase.
If you want to see how stocks move off of the Longshots list and into trades, check this out.
To Your Trading Success,
AG
Andrew Giovinazzi
30-Year Trading Pro
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CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
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