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

To: Michael Bakunin who wrote (77070)	3/6/2000 6:47:00 PM
From: Steve Lee	Read Replies (4) \| Respond to of 132070

Michael, you seem to not understand the supply and demand that causes a stock to move. Not surprising as you were calling for falls in RMBS and INTC several weeks ago. If short covering is matched with new shorts coming in - in equal amounts at the new higher price, then the buying pressure from covering is equal to the selling pressure from new shorts. In this scenario, there must be another force to move the stock. Especially when we are talking about a more than fourfold increase. Today was a down day in the market. RMBS had some good news. RMBS went up. All the RMBS up days during the recent run from 80 to 320+ have been accompanied by significant RMBS good news, namely the strong confirmation of Intel support, the declaration of DDR by Intel as "dead", and the volume RDRAM manufacturing of two of the world's biggest DRAM manufacturers. Today we had the MSDW report predicting a $100B market for RMBS products. This has not yet hit the wires. When it does, then maybe we will get a short squeeze. I reestablished a call position today on the breakout.