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

To: BGR who wrote (77189)	3/7/2000 11:48:00 PM
From: Ilaine	Read Replies (1) \| Respond to of 132070

Do you honestly think that the market is always rational? You believe that there has never been such a thing as a speculative bubble? I suggest you read more, and if you find that you don't have time for reading, post less. You only learn when your eyes and ears are open, not your mouth.

To: BGR who wrote (77189)	3/8/2000 12:03:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 132070

good grief, you are annoying. when you are wiped out will you stop posting?? you must be 12 becuase only a child continually antagonizes people the way you do.... grow up and go AWAY. go play w/ the DELL thread or something. they're more on your level...

To: BGR who wrote (77189)	3/8/2000 9:43:00 AM
From: Earlie	Read Replies (1) \| Respond to of 132070

BGR: The "summer's stupidity" was not quoting you, it was quoting the general reference of the bond market to that interesting situation. You flatter yourself unnecessarily I usually try to quote credible sources. I clearly noted that the comments referencing foreigners buying at the peak of the market comes from market pros. Does that somehow make it my appropriation of TA? I love it when a bull such as yourself cannot see the bear enjoying lunch on one sector after another. Rising rates not sucking money out of this market? Huh? Transports, Utilities, retailers, metals, even oils are pounded, but nope, it certainly isn't a bear market. Why not? Because the tech stocks are still up. And did they not try to inject even more tech sector influence into the DOW (MSFT, INTL, etc.) just a few months ago? How now the Dow? I bite my tongue on this one. Tech stocks immune to downdrafts? And fund ownership of same won't cause problems? Now let me see. Is MSFT a tech stock? And what percent is it down from it's peak? 25% you say? And as it is the largest stock in most institutional portfolios might this not hurt a bit? And is IBM not a "techie"? Not that another 25% downdraft on another big fund name will cause any problems. (g) Might I suggest that you read Trim tabs if you want to understand flow of funds. A basic concept is that the higher the market price of stocks, the greater the overall flow of funds must be to sustain the situation. The key words are "greater" and "sustain" Overall flow of funds are worrisome enough, but now let's throw in massive insider selling (which increases stock supply) and massive IPOs (which also increases the supply of stocks) and then factor in reduced stock buybacks (as the insane two year vertical rise in corporate debt runs into the nasty reality of Moody's downgrades as well as ascending debt service costs), which reduces the dough available to buy stocks and one is left with a situation where an increasing number of stocks have to be "orphaned" to hold a shrinking remainder aloft, which is of course exactly what is happening. Once this type of action becomes well entrenched, it is only a matter of time before the last remaining sand castles fall. Bears love narrowing markets. You lost me on that "only funds with huge capital investments funded by debt will be squeezed" Want to take another try at it? Finally, since you are so delightfully bullish on the techs, let's have your views on the current PEs carted by the big tech darlings. My perspective is that they make perfect targets for patient put-buying bears, as the slightest disappointment will send them tumbling one by one. I also think that with "nuclear winter" settling in across PC land, just such an occurrence is assured. Best,Earlie