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Politics : Ask Michael Burke

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To: Bill F. who wrote (65946)8/8/1999 3:02:00 AM
From: PaperChase  Read Replies (3) of 132070
 
I am curious Mr. Fleck- , are you still outright short on MU? And if you are short, how much fear do you have that MU is rising in an otherwise resting market.

I must remind you that these are the best of times. I find your comments about the overall market to be something that does not reflect reality. It is speculative insight only. Did not your recent vacation give you a chance to reexamine your approach to the market?

I have said before that the bull market isn't over until the banks stop lending. (IMHO, banks are loose cannons with fraudulent accounting.) Investors were speculating over a year ago about Chase's derivative exposure and the possiblity of a looming implosion from this. ...it never happened and there is no reason to believe the current market rumors about a failing hedge fund will affect the market averages more than a few days. There has to be more of a systemic breakdown across the board for the banks to stop lending. The only systemic breakdown that is plausible is Y2K concerns from overseas banks.
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