Gut Reactions

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Earlier today, I took a look at Micron (symbol MU), which I knew was reporting earnings after the close. Since October 2012, it is up almost 400% (!!!!!!) and lately has been showing signs of exhaustion.


I shorted MU, and naturally I was chagrined to see it zoom up about 6% after earnings were reported…….only to completely lose that “gut reaction” gain and – – at times – – actually be in the red. It just goes to show that these initial reactions don’t necessarily stick……..which is probably something we should all remember in the moments following the jobs report tomorrow morning.