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

To: Knighty Tin who wrote (69755)	10/29/1999 11:36:00 AM
From: MythMan	Read Replies (1) \| Respond to of 132070

Last years lies have extended to this year -g- Too many real companies are saying things suck.

To: Knighty Tin who wrote (69755)	10/29/1999 12:12:00 PM
From: Joan Osland Graffius	Read Replies (1) \| Respond to of 132070

MB, >>I think this rally in the indices is the last blowoff. IMO, to make this the last blow off we need to get the bears to buy in. What are your thoughts on gold? I received a call from a sorority sister yesterday wanting to buy gold using stocks. I noticed Flek had Homestake and Anglo on his list. I also noticed you had mentioned that the western political climate for currencies is not exactly positive for gold. I am starting to keep an evil eye on BR and UCL. Looks to me like the street is betting on lower oil prices going forward. I wonder if there is some leakage in the cartel or are we experiencing a slow down in demand (economic slow down). Do you have any thoughts on this sector? Joan

To: Knighty Tin who wrote (69755)	10/29/1999 12:12:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 132070

Michael, i agree with you that this is the final blow-off...only i think it will continue for a while yet. remember the blow-off in the Nikkei? this could become similar in extent. i see a big pullback after November expiration based on the cycles, but it should be bought...the cycles point to the real blast-off beginning in early December and lasting into March 2000. don't forget that we have record high short interest on the NYSE and NAZ and the bullish consensus was at a YTD low last week, all ingredients for a powerful rally. in short, i think you're too early with the puts. otoh, i hope that you will be right and i will be wrong...i'm still sitting on a few index shorts that i need to get out of...<ggg>. oh, did i mention that easy Al proved with yesterday's speech that he's in WS's back pocket by spouting new era nonsense? i'm sure he got wrist-slapped for the cautious comments he made last time. the speculators know that the Fed won't dare to pop the bubble, so it's off to the races again. what could actually push the bubble over the edge in your opinion in view of the Fed's complicity? regards, hb

To: Knighty Tin who wrote (69755)	10/29/1999 4:21:00 PM
From: Freedom Fighter	Read Replies (7) \| Respond to of 132070

Mike, I am slowly coming to the conclusion that I want no part of this market except for the shares of BRK that I bought in the late 80s. (and the few babies shares I added recently) I simply do not understand what's going on (despite my enormous efforts). That's making me progressively uncomfortable holding things that I would otherwise feel very comfortable with. My attempts at hedging those positions are costing me money and taking an emotional toll. Either something is going on that I will never understand and agree with or we are heading towards a monumental disaster. If my understanding of the situation is correct, I just can't see how you can unwind this mess slowly or under control. In the mean time there seems to be no limit to the credit expansion, hype, leveraged share repurchases, and all the other things that are keeping the process alive. I'm not sure I can take another few years of this even if I'm eventually right and it blows! I want to stop thinking about it. I long for the days when stocks traded between 10-20 times earnings and prices moved in ways that corresponded to real economic and business developments. I need t-bills, a racing form, and a good imported brew! Wayne