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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (69755)	10/29/1999 12:12:00 PM
From: pater tenebrarum	Read Replies (1) of 132070

Michael, i agree with you that this is the final blow-off...only i think it will continue for a while yet. remember the blow-off in the Nikkei? this could become similar in extent. i see a big pullback after November expiration based on the cycles, but it should be bought...the cycles point to the real blast-off beginning in early December and lasting into March 2000. don't forget that we have record high short interest on the NYSE and NAZ and the bullish consensus was at a YTD low last week, all ingredients for a powerful rally. in short, i think you're too early with the puts. otoh, i hope that you will be right and i will be wrong...i'm still sitting on a few index shorts that i need to get out of...<ggg>. oh, did i mention that easy Al proved with yesterday's speech that he's in WS's back pocket by spouting new era nonsense? i'm sure he got wrist-slapped for the cautious comments he made last time. the speculators know that the Fed won't dare to pop the bubble, so it's off to the races again. what could actually push the bubble over the edge in your opinion in view of the Fed's complicity? regards, hb

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