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

To: mike iles who wrote (26869)	3/20/1998 6:30:00 PM
From: Knighty Tin	Read Replies (3) \| Respond to of 132070

Mike, The 5 pct. hickey (not Fred) today must have made you feel a bit better. Yes, option premiums can kill you. No matter how right you are. You have to be right on time. That is why I developed all my low risk techniques like 90/10 and thirds entries and exits. They all help, but the words "expired worthless" still make me weep like a baby. MB (hopefully not expiring soon, worthless or not. -g-)

To: mike iles who wrote (26869)	4/2/1998 7:17:00 PM
From: Earlie	Read Replies (2) \| Respond to of 132070

Mike: Sorry for delayed reply, but have just returned from some time on the road. With respect to MU, I totally agree that this thing just seems to survive on air. (an "airplant"?). This market has now completely cut loose from reality, and is in that extremely dangerous parabolic blow-off stage as far as I am concerned. The pre-announcement period has been catastrophic, but the party-goers are drunk. As I warned earlier, Japanese money is now definately flowing in like a Northern river in flood. My checks with a bunch of bank-related friends elicits leers and jokes....they claim that it's just pouring in. Lots of anecdotal evidence that can't be repeated, but it's coming in. Think of it as the last remaining decent pool of money that the market needs to sop up. The sponges are at work. (g) I've made my mind up that I'll just take a few pot shots at those that already have bullet holes in evidence. The Japanese mad money will keep the party in gear for a bit yet, and I'll just watch most of the action from the sidelines. MU is going to lose hundreds of millions of dollars during the next two quarters, and will acquire an excellent close-up view of "the wall". My kind of low risk situation. I'll also ride INTC and GTW, as both will deliver "disappointment" of consequence this quarter IMHO Take a good look at Zenith. The details suggest chapter 11 is near. Like many other "walking dead" candidates, the debt holders already own what's left of the company, and the market is trading paper that has a "nil" residual value. (reminds me of my old favourite Cott). Sooner or later, the lambs will wake up to this fact. I like that kind of risk-reward ratio. Best, Earlie