All Clowns Must Be Destroyed Message Board

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Pastimes : All Clowns Must Be Destroyed

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To: pater tenebrarum who wrote (14238)	3/2/2000 6:08:00 PM
From: Alias Shrugged	Read Replies (2) of 42523

The Great POS: Well, I bought the April 70 puts on MU on tue. with the stock bouncing between 89 and 90. I paid 2-9/16. The stock is now almost 7 points higher but the puts are trading 2-7/8 by 2-15/16. Since I don't know what to do with puts which have appreciated in price (has never happended before) I will hold until they expire worthless as usual! Who knows ... maybe this time is really different. Warning: Today I bought some INTEL Apr. 100 puts: expect this stock to ramp to 175 and split, pronto! I bought another slug of USPIX last thursday; so far, so good. I intend to hold USPIX for a looooong time. The stock market has morphed into something truly grotesque. I hope greenspan is pleased with what he has spawned. Although, he has changed his verbiage. At the most recent congressional hearings, he had a difficult time explaing what he saw in the economy that was disturbing him and would lead to more rate increases. (I know we try to pay attention to what he actually does as opposed to his speechifying). His BS explanation involving imbalances and tight labor pools and foriegn investment was not well received by the CongressPersons. And WTF was this theory he had about higher productivty leading to increased profit expectations leading to higher stock prices leading to increased spending? W. T. F. How about: because of easy credit and repeated bailing out of risking behaviour, the majority of market players (I was going to use the term "investors", but it don't fit) now truly believe they can become rich by investing in tech stocks, and have leveraged up to do so in a most undiversified fashion. But something is scaring him. He must be monitoring some statistic which is now flashing red for him I am sick of this old economy - new economy shit. How about: a stock can only be hot if it has an open-ended story - one that promises revenues and profits without bounds. You don't see Bethlehem Steel being jammed from $8 to $288. But some b2b POS could be; no current reality argues against the infinite price while BS has steel mills and book values and old that old economy stuff. You know, real versus virtual stuff. This will end. I missed the last biotech craze (in the early 90s?). Were there any stock which were ramped 500%, 2000% which subsequently cratered to near zero?? -gg-

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