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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (55905)	8/10/1999 4:51:00 PM
From: IceShark	Read Replies (1) \| Respond to of 86076

But it is up fractionally in afterhours. I get this feeling that the techs are going to charge up tomorrow and drag everything along with them. Inut options premiums are out of sight, but I ain't writing 'em. -g-

To: MythMan who wrote (55905)	8/10/1999 5:12:00 PM
From: pater tenebrarum	Respond to of 86076

MM, imho more or less all the overhyped "above expectation" earnings suck given current multiples and considering the multitude of accounting tricks that allow for pension fund surpluses(a direct consequence of the bull market) to be used for massaging of the numbers, and option plans not being booked as an expense. i keep on asking myself, if these ESOP's are not an expense, then what the heck are they? i guess it is a sign of the times that investors seem to like it that the wool is being pulled over their eyes at every opportunity. Tice may like his Bourbon too much, but i agree with him that we are witnessing nothing but an elaborate Ponzi scheme. as i write this the bullish cheerleader with the swedish-sounding surname is declaring his satisfaction with Cisco's earnings and predicting a surge for all tech stocks tomorrow because of that. unfortunately he is probably 100% right about that. no-one cares anymore about fundamentals, it's one big casino. 347 new lows today...