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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (46643)	2/11/1999 6:37:00 PM
From: upanddown	Read Replies (2) of 132070

Mike: re FLC downgrade Dain Rauscher downgrades it close to 6. Their upgrade to strong buy isn't in the last year but if they did it since the beginning of 97, it was probably well above 30. 80 - 85% lower, they are now neutral and for this, they collect 7-figure salaries and fat bonuses? I bought a final third today close to 6 and I ain't selling til' you do. <ggg> I'am looking for put-type profits on this one eventually. I also got 4 bucks for the June 10 puts this am, which paid for 2/3 of my long. Is there any advantage here when the put premium is such a high percent (40%) of the strike vis-a-vis downside risk ? Another question about short puts. How does this affect the equity in my account, (standard taxable Waterhouse)? Is the put premium available immediately and how much equity is needed to cover the put if it is in the money ? Its waaaaaaay in the money and probably will be for a while. Thanks, John

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