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Politics : Ask Michael Burke
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To: HH who wrote (28593)5/29/1998 10:45:00 AM
From: Knighty Tin  Read Replies (3) of 132070
 
HH, A quadruple digit drop in one day is not that fantastic an idea. the Dow dropped 500 points in 1987, and was in the 2000s then. In the 9000s, that type of move would come closer to a 2000 point drop. And that 7000-ish level would make stocks about 25% overvalued in a modest eps growth environment, when we have a no growth eps environment. Of course, the markets would close down so we couldn't capitalize on our puts immediately. But they have to re-open sooner or later. Or, we just put the stocks to our buddies the put shorts and say, thank you, thank you very much. Frasier has left the building. <G>

MB

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