Two Degrees Below Zero: $MU The highs keep moving lower. This week's support at 650 has now dropped to 639. The daily chart has no bottom in sight, and prices are likely to keep testing lower. The main strategy is to short rallies; only go long at lows to catch new lows, and take profits promptly (see screenshot for the specific strategy).

Micron closed near 690 yesterday, up about 5%, but still hasn't reached its 704–720 short zone. This approach of “shorting the rebound, then waiting for a new low to buy in” fits the current trend of the storage sector pulling back from its highs. However, there was already a rebound yesterday. Will it offer another short entry in the near term?

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