$Micron Technology(MU)$ Just took a short position at $50.40.

My take on the ER: In short, this is bad. Not just bad for MU, but a bad indicator of what others will report in the next 45-60 days and the likely direction of the indices.

One of the biggest recent trading mistakes I have ever made was not believing the up trend was over in the markets and continuing to buy. If you do not believe that the markets are heading lower (and taking MU with them), there will likely be much more pain ahead.

It is not necessary to abandon your belief that a company is "good" when you sell the stock. You sell a "good" company in the belief that you will get a more advantageous price later. Later has not come yet... Right now in the AH I see $50.00 for MU. The $45 puts can be sold for $0.68 for the January 20 expiration. If you sell 1,000 shares (and you believe the markets are going lower) today, then sell the 10 contracts of the January 20 puts for $0.68, you would likely save yourself $5,680.00 of pain and get to profit $5.68 sooner. (yes, I understand the assumptions that are necessary, but the alternative it to buy more and hope or keep holding and hope)

Believe it or dont believe it, Bubba dont care either way....but do not ever say you didnt know what is about to happen to the whole market.....GLTA!