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Politics : Ask Michael Burke

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To: Grislee Bear who wrote (362)8/7/1996 5:53:00 PM
From: Knighty Tin   of 132070
 
Gris, You have the right idea on MU. I would look at the Oct 20s. You will have not only the disaster eps in Sept, but time for a fine readingof them to eliminate the spin Micron will put on this Titanic (hey, so the boat sank. At least the band played well-g-). I think the idea that lower premiums indicate a move up or down is silly. They have much more to do with interest rates coming down. Back in the days when T-Bonds were yielding 14 percent, premiums were huge and stocks were in the tank. Now yields have fallen 50 basis points or so and the premiums are naturally down from when the long bond yielded 7 1/4. But CNBC has a lot of time to fill, so they have to say something. MB
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