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

To: Cynic 2005 who wrote (30109)	7/22/1998 8:13:00 PM
From: Earlie	Read Replies (1) \| Respond to of 132070

MMV: Your timing is excellent. This afternoon, I met with two heavy hitters (both well-scarred and canny) in the Canadian stock scene. Both expressed what I've been hearing and seeing for months, which is that juniors are "no bid" ..........NOW. I also get plenty of calls from guys asking if I can find them a bid for their block of 50,000 or 100,000 shares of "X",....... shares which were not for sale at any price a few months ago. (incidentally, I'm not a broker, nor connected with any brokerage firm in any way) As noted earlier, this is the third quarter in a row in which many tech stocks have reported crummy numbers. Money within the tech sector has tended to flow from the "tarnished" (i.e., have already reported bad news of some consequence), to the "untarnished" (have either not reported bad news or have successfully hidden it through accounting trickery or "rebound in second half" drivel). The untarnished list is getting smaller each day. Personally, I still think it's a bit soon to commit big bucks to shorting/putting the sector, in spite of its ugly fundamentals. The dough flowing in from Japan is a river, and the election results essentially guarantee a slow response to their massive currency export problem. They have to do something soon, but it takes resolve to tackle it. I don't envy whoever becomes the new Prime Minister. My advice is to whack only the obvious "mortally wounded"....Micron, Intel, AMAT, etc , and to do it only with puts. I love Mike's 90/10 approach as it leads to both profits and restful nights. There are a few stocks that I like, but very few, and most I'll buy on the back side of the upcoming nastiness at much lower prices. I'm only recommending some very special situations where the risk is very very limited. Best, Earlie