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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (53181)3/24/1999 9:24:00 AM
From: Knighty Tin  Read Replies (1) of 132070
 
To All, Interesting early morning. I heard the early CNBC crew and they were much better than the later in the day crowd. They actually mentioned bearish news as bearish and didn't give all the copouts the regulars spew forth.

1. Readwrong (RDRT) warns. One of the Xmas lies was, "this must be a pc turnaround because the disk drive cos. are doing so well." Well, Hootie and the Blowfish on that one. <g>

2. Insiders have been selling Apple, Gateway and Compaq at the top of the runup by the herd. Yes, it could have something to do with year end bonuses (execs at these cos. got bonuses?) in stock or option maturation, but it is one heck of a coinkadink.

3. Burlington Resources (BR) is Merrill's focus one stock of the week. I mention this because I bought it low and sold it high and to give some perspective about when contrarians get into a stock and when the blundering herd gets in.

4. The 3-Coms eps "better than expected," was treated as a joke by CNBS this morning, as it should have been.

5. Herb Greenberg was on talking about all the accounting scams. Unfortunately, he only mentioned the ones that have already been revealed in the press as he probably doesn't want to get sued or murdered. CHS was prominent.

6. Ron Elijah (are they still letting him manage money?) said the pc slowdown was seasonal. The drop from February to February was because Feb took place during a different season last year. <g> What a joke!

MB
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