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

To: miklosh who wrote (36355)	11/16/1998 10:35:00 AM
From: Knighty Tin	Respond to of 132070

Mik, Easy question first. Still long Midway and may buy more after Xmas. The tech stocks are currently priced as though this will be the Xmas to end all Xmases. It is certainly possible, but I think unlikely. The recent rally in the market increases the probability of a lot of consumer spending, as does Greenspan's reckless money printing. But will people be buying computers when the new ones don't do anything new? There are absolutely zero new apps for which you need a new pc this season. True, the market could be expanded as non-owners go for the cheap prices. But, then, the folks who do not have pcs already are probably not the folks who made a lot of money in the market rise. They are more likely to be the ones laid off by the collapse of Asia and Latin America. Speaking of which, those were the two biggest growth areas for retail pc sales. A very important point is that Xmas and retail are important, but not as important as business pc sales. It is possible to have a good or bad Xmas for retail and still have the opposite macro result due to business sales. It has never happened, but it is possible. I agree that the train could be moving a lot faster, but I still see December as put up or shut up month. And I think they start December gabbing, as they are now, and get real quiet by New Year's Eve. MB