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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (26722)3/16/1998 3:41:00 PM
From: valueminded  Read Replies (1) of 132070
 
Mike:

Enjoy your commentary. Couple of my own observations,
1. Mu earnings are immaterial to the stock price. Even if it misses earnings by 50% and records a 25-30 cents loss, it wont matter.
2. People are looking to 1999 earnings. 1998 are a write off so it does not matter. I used to believe that mu traded the dram price, it does not or at least has diverged over last month or two.
3. Investors have lots of moola, and they know that they can throw it at the market and the market will go up - therefore, they throw the money at the market.
4. Stocks do not go down until it is obvious company is going out of business.
5. I said it last message, and it bears (no pun intended) repeating, this market can not go down as long as the M3 continues to expand at the rate it is expanding.

That being said, (since I have not done well trying to play the downside of a huge bull market), what do you like long ?
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