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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (66619)	8/22/1999 6:31:00 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Ike, I was astonished by Presstek, too, as I started buying puts when it was way overpriced at $50 and bought them all the way up to $200. In all, I made about 600% on my PRST puts, but it should have been much more. The ignorati just wouldn't face facts for a long time. Just as they are doing today in many other fluff stocks. No, other commodity producers cannot form cartels like OPEC because they are not sovereign nations and any time they raise prices, uneconomical supplies suddenly become economical. In fact, that is even true of OPEC, but to a lesser extent, due to the huge holdings in Saudi Arabia.