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Politics : Ask Michael Burke

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To: accountclosed who wrote (38353)	12/7/1998 11:00:00 AM
From: Knighty Tin	Read Replies (1) of 132070

AR, Unfortunately, my technique on the questions you asked is not that mechanistic. I regularly get one third positions wiped out. If I still feel the same about the underlying issue, I replace them. If not, I sometimes move on to another issue or hold back a portion. This is based upon fundamentals and stock valuation. If the fundamentals change, the bet changes. Ditto for if I own a 2/3 position and one third gets perspired. If I am buying puts and the price has gone up while the fundamentals haven't changed, I'll probably replace it. Sometimes, I get out of a stock completely on the options side when I feel too emotional about it. I don't want my hard glare of reality clouded by the fact that I hate a co. or its mgt. or the analysts who follow it. The most recent example I have had to look at closely was Micron Tech. I had to keep going over the numbers and making certain that they were really as bad as I thought they were. Was I missing something that the bulls saw because I really despise this co.? I looked and the #s and the outlook still stink and the stock is still worth $6. But if I felt that my decision was being influenced by emotional factors, I would simply leave MU behind to find other issues to play. MB

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