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Politics : Ask Michael Burke
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To: Freedom Fighter who wrote (97763)11/10/2002 4:29:22 PM
From: Joan Osland Graffius  Read Replies (1) of 132070
 
Wayne,

Fleck writes for Cramer at TheStreet.com these days and it is a subscription service.

He is still talking about the ridiculous evaluations in the tech sector like Intel, the other chip manufactures, the equipment makers, etc. IBM is on his list of crony balance sheets, etc. He has been recommending folks think about a small insurance policy in gold and is on the side of the dollar going down over time. All in all he is not exactly positive on the US market. He recently recommended folks look hard at the long positions they were holding.

He is thinking if Japan gets its banking act together investing there could be something to think about in the future.

Fleck seems to think this market will go down in a serious way much sooner than Biggs. Of course Biggs thinks the rainbow is going to show up first quarter and he could be right because of the inventory build for Christmas. I suppose if some of these companies show even a glimmer of hope, it will not make any difference how overpriced they get - folks will just buy.

I am sure other folks could chime in and add to my recollection.

I would not mind if they sold value companies and chased the overpriced junk. There could be some opportunities under this scenario.

This darn market is acting like some old markets we experienced. Going up vertically while the dollar is getting hit. I do not understand what is going on except most everything I look at is waaaaaaaaay over priced. <g>

Edit - Fleck is also watching the houseing stocks for a break in the RE market and banking stocks for problems.
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