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Politics : Ask Michael Burke

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To: Michael July who wrote (84037)	10/9/2000 1:25:46 PM
From: Knighty Tin	Read Replies (3) of 132070

Michael, I bought a first third of Keane. I haven't bought a second third yet. I would rather buy it at $15 or $14 on the way down than $22 on the way up. It is just a different approach between a contrarian and the mainstream of trend followers. My diversification, which includes long puts and bear spreads (and a lesser amount of credit bull spreads) and my very low weighting in long stocks, in general, protect me from a meltdown. I am very gently nudging from a totally bearish, end of the world portfolio stance to a stance that is simply more bearish than average. This often happens after the market turns. It may turn more, but it is no longer a slam dunk and I want a few cheap, bullish positions in case the Xmas lies take hold.

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