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Pastimes : All Clowns Must Be Destroyed
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To: Alias Shrugged who wrote (14256)3/2/2000 6:48:00 PM
From: pater tenebrarum  Read Replies (2) of 42523
 
Mike, if my technical read on MU is correct (a high probability scenario imo) then you should do fine with those puts. just don't forget to take the profit when it is reasonably sizeable.
i can explain about bubble boys productivity remark: he knows the productivity stats are complete hogwash due to the overweighting of computer manufacturing, which is measured using the hedonic pricing trick, and while representing only 1,8% of GDP, is skewing the stats in a market-friendly way. in any case, we can hardly expect him to admit that he has created this monstrous bubble with his easy money policy can we?
i think what spooks him is the ramping up of margin debt...he knows very well that every time this has happened in the past, TL&EV were not too far off.
of course pie in the sky is better than anything tangible...remember Japan, and the ramping of pharma stocks on hopes they might be on to cures for aids? in the final analysis every mania is the same. as soon as things get out of hand, an army of useless stock pushers will tell you why it is rational to pay x amount for nothing much.
the leftover corpses from bio-tech mania part one have to a man been resurrected in the current one.
i'm very much looking forward to the coming collapse...it will be an extraordinary spectacle.
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