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

To: novice investor who wrote (32977)	9/27/1998 4:39:00 AM
From: Skeeter Bug	Respond to of 132070

novice, i think james sold me those cmb puts ;-)

To: novice investor who wrote (32977)	9/27/1998 4:48:00 PM
From: Knighty Tin	Respond to of 132070

NI, I am still waiting for a packet from PGNS. Will comment after I've studied it and made some calls. Jim Cramer, the Everwrong Bunny, is probably right short term. All of the game-playing touts, of which group Jimbo is a minor player, are circling their wagons and saying that financials are cheap. And the maximum amount of people have yet to sucker in on these issues. His analysis is idiotic for the long haul. Not everyone has to go bankrupt to hurt these instituions. They are gambling with high margin and smaller profits hurts their still high valuations. Net, net, I have cut my puts to a third on the banks and brokers, but will buy more if they run them up on this manipulated move. BTW, Cramer was VERY late to the game here with his shorts. He had already lost about 30% on Citigroup before he realized what was happening. Momentum geeks always play for small amounts in the middle, and it may be time for him to make his small change in these issues. I won't play them for the upside because it will be a suckers' rally if it happens. M