Another hit where I crush it. Forget that I'm talking about individual stocks versus a well diversified ETF. Nike is a metaphor for beat up large growthy companies, I mention the dogs of the dow theory - which was an old trading strategy that doesn't work as well today were investors would buy the highest yielding stocks in the DJIA, hoping that they hit bottom and would bounce hard over the next 12 months. It worked well for years until people started to copy the strategy and then like all things the effect got diluted and stopped working. Bottom line: you can buy stuff in a blown up bear market - with higher prices ahead, but timing is uncertain.
Micron is different. It's a crap shoot. It's a speculative trade I wouldn't do. Would I like to buy the semi conductor sector cheap? Sure. But at 1.1 times book it just isn't cheap enough to pay me for the risk. Why not wait until literally nobody wants to own this firm and it's selling at half book value. Then I might be tempted.