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Strategies & Market Trends : Bear! -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (33)	5/1/1998 11:17:00 AM
From: Lucretius	Read Replies (1) \| Respond to of 271

Mike, NKE may not have turned around afterall. It is still w/in its channel, and could not make the push above the 200 dma. I think we saw a classic short covering rally. :( I still own puts and expect it to plunge later this yr when this mkt goes into the tank. Looks like to me we're putting in a top. As long as the quality stocks continue to drop, and the likes of KTEL and other internet trash stocks are going up. We are fitting the classic definition. IMO. -Lucretius

To: Michael Burry who wrote (33)	5/1/1998 9:52:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 271

I'm a REIT analyst in my professional life too - don't know if you knew that, Mike. My buys would be EastGroup (EGP) under 20 (7% yield, trading slightly below the value of its real estate, low volatility warehouse property) and Colonial Properties (CLP) under 30, an underrated class act in Alabama yielding 7%. These will offer some protection in a bear market (and there's nothing wrong with a 7% dividend - with bonds at 6% - even in a bull market.)