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

To: Joan Osland Graffius who wrote (96742)	7/20/2002 10:04:59 AM
From: Tommaso	Read Replies (1) \| Respond to of 132070

Joan, all I can see myself doing is selling maybe 1/8 of my BEARX so as to have some cash in case of a bounce. My Dow puts I am holding for long term gains, but I can sell BEARX any time in our IRAs. All the press coverage this weekend does bother me. That is, it brings out the contrarian in me. Our local newspaper's front page was half covered with two stories about the market, and there's that Business Week cover. So there could be another of these stupid bounces--as in 1930.

To: Joan Osland Graffius who wrote (96742)	7/20/2002 10:43:59 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Joan, Yeah, I have a list and I'm checking it more than twice. But if I jump, it will be a small % and will be in calls whenever possible.

To: Joan Osland Graffius who wrote (96742)	7/20/2002 11:47:01 AM
From: Amir Shalit	Read Replies (1) \| Respond to of 132070

T & Joan, I don't see much media interest in the market. San Diego local TV stations barely mentioned the slump. They had one "buy and hold" female analyst saying it's a great buying opportunity for anyone with a five years time horizon. <g> The S&P is currently trading at 15 times peak faked earning at the top of the infinite money supply bubble. Doesn't sound that cheap to me. <g> Huge liabilities of the American auto companies, a few surviving Telecoms including NT & LU and the major lending institutes must sort itself out. I expect trillions in bad debt to be written off prior to actual bottom. P/E ratios are just meaningless for a company like GM facing $70B of unfunded pension fund and $300B total liabilities. I don't think comparing the situation to 1998 is fair since now we are in a bear market in which reality has some bearing. Amir