Last week I bought Micron Technology (MU)

I have another purchase to share with you. I bought into computer memory manufacturer Micron Technology at $12.59. Here's the idea behind this purchase:

MU is beaten down. Their whole industry is under intense pricing pressure and the stock is trading at around its 52 week low. That being said, at $12.59 it was priced just above book value. The company is a technological innovator, has very little debt, and lots of cash. I also think that long term their business is in a growth area. I can't see myself losing that much on this one....however, as of last Friday it was down to $12.23.

I still have a bit of cash on hand, but barring the appearance of some huge bargain I will make no more stock purchases until the market corrects by ~10%....