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

To: Knighty Tin who wrote (24114)	10/27/1997 11:54:00 AM
From: valueminded	Read Replies (1) \| Respond to of 132070

Mike: Thanks for responce. What kind of a sign would you look for on AOL. Methinks it wont be earnings since non is expected in the near future. Perhaps a drop in users as might signal it ? At any rate, what do you recommend puts on as of late. I tried this morning on SOX and missed as it gapped up. I own puts on gtw and mu and hwp but have not had a chance to add to the mu as it has been tanking pretty hard every day. It appears that they still expect earnings of more than last quarter for this stock. Highly unlikely as the asp has dropped precitpitously from the 6.5 they quoted last quarter. Do you have any additional put positions you would add at this point? (ps no reason to limit to technology stocks) I had been evaluating oxford health plan puts but missed the big move on that one. thanks

To: Knighty Tin who wrote (24114)	10/27/1997 9:37:00 PM
From: Kerry Phineas	Read Replies (1) \| Respond to of 132070

MB, did you write this note about AOL before noting it was down something like 14 points. (actually I have no idea when it crashed today- yikes!). Also wanted to thank you for the note about raising cash. Have a decent amount of cash, but thinking about raising some more. Doesn't seem like the gold stocks did that great today(only because I've got ABX, which definitely did NOT do all that great). Scared to check out the puts, to see how much they went up, but I put in a limit order to sell TXN Jan 90 puts at 3- should've placed. I'm around 60% cash right now if you don't include the value of my place, but might raise it a bit, especially because the put portfolio probably doubled today. Don't plan on gloating, though. Read the most recent Smart Money, p. 116. There's an article in there about this guy who works at Sears who retired early because his retirement fund was up to 340K(or something); then he talked to a broker who had him put it all into mutual funds. Here's a paragraph: "On Hardwick's advice, Cochran diversified, getting out of stocks and into mutual funds. The broker divided Cochran's money among three families-American, ITT Hartford and Lord Abbett- then spread it out further into growth, growth and income, asset allocation and international funds in each group. The idea, says Hardwick, was to "diversify the management risk away... You think growth and income is growth and income, but every fund manager takes a different slant." Each month Cochran draws a little more than what he was making from Sears (c. 35K) while his principal continues to build. "If it keeps up this way, by the end of the year I'll be a half-millionaire," says Cochran."