Micron moving back Up

The Masters told you to start a position in Micron Technology Inc. (NYSE:MU) on Aug 25th, the stock has since climbed 21% from then (just 9 trading sessions). In early August we told our readers to be patient with Micron, wait for a bottom and then pounce.

Well for those of you that did, congrats as the stock was trading in the low $5 range and today its at $6.45.

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Today Micron shares are up 6% at $6.45 on heavy volume. Micron Technology (MU) shares have traded between $5.18 and $11.95 over the past 12 months. Micron now trades with a P/E Ratio of 9.8 and a EPS of 0.62.

We knew investors and the trading robots would could come back to Micron, that's the case today. As we said before on Aug 2nd and Aug 25th:

MASTERY Bottom line: (Aug 2nd) Micron (MU) shares are doomed to hit a new 12 month low. Wait for that buying opportunity then back up the truck.

MU is not dead by any means, just not loved by Wall Street.

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(Aug 25th) We poke fun at Micron but make no mistake, we've been waiting for a chance to buy.

We were waiting for MU shares to bottom, it appears that has now occurred.

Its time to think about building a position.

Congrats to those that did buy when it hit bottom.