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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (261)	8/2/1996 4:39:00 PM
From: space cadet	of 132070

Michael, thanks for your post on buying MU. As I mentioned in my last conversation with you, the market rocketed today as I sort of suspected it would. If I was back to my old game of buying calls on CSCC I would have made a bunch but your negative vibes are having an effect on me. Would you buy puts on CSCC, PAIR, or SHVA here? I bought some Jan 17.5 puts on MU today, probably around the time you bought your puts. I noticed MU skyrocketed at the end of trading today so I'm already down a little but nothing too bad. Any reason for the late burst? No big news coming next week and with earnings season over the optimists may continue running away with the market. Well I'm trying to follow your strategy Michael and will buy another third of MU puts if that happens. I noticed you bought Sep puts instead of Jan. How do you decide what month to buy? I and a lot of other guys on this thread sure hope you're right about MU. I know rationally what you say makes sense but I remember getting absolutely creamed in the earnings report this winter when MU was at 30, the puts were expensive, the earnings report was delivered after close on Thursday and it was atrocious. I had a lot of 30 puts that were expiring the next day and I thought I had struck gold. Instead to my and everyone's disbelief MU WENT UP that Friday. Ahead of MU was months, if not years of declining prices and earnings and yet it went up. I still haven't heard any decent explanation anywhere on the internet for this aberration. Do you have an explanation? Anyway, let's hope that reality sinks in on MU. I guess I can wait till January for that to happen.

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