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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (59154)5/12/1999 4:52:00 PM
From: Robert  Read Replies (2) of 132070
 
MB --

I am at my wits end. How can the equities markets rally on news of Bob Rubin's resignation? I am starting to wonder if we will EVER reach a point where the markets WON'T rally on whatever the new news is, whether good or bad.

Given the current insane mania, how are you playing things? Are you still buying 1/3 put positions on financials and techs betting on company specific drops? I personally am very nervous playing when even the hyper bulls like Cramer are uncomfortable noting that news of CSCO's earnings and outlook weren't what juiced the stock -- it was the news of the split that triggered the rally.

Maybe I am just frustrated and tired of fighting the bulls, but I was hoping for a voice of reason from you, Earlie, Bill M., Fleck, etc. as to how you are currently approaching this fantasy-like mania.

TIA

-- Robert
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