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

To: Knighty Tin who wrote (38342)	12/6/1998 12:36:00 PM
From: LowtherAcademy	Read Replies (2) \| Respond to of 132070

Mike, I thought I'd try to get you at a "generous time of the year", with a real simplistic and newbie question. A long explanation would be appreciated and a short one would do the job! :-) I've never done options before. Been reading your thread more or less faithfully for a year plus. I want to take a plunge into puts, and largely based on the interaction and info here, am quite enamored with Puts on MU and NVLS. The question is simple: What is your recommendation/strategy on Puts for these? If you want to share your thinking on that, I would be most appreciative. In any event, I want to say thanks for all the info you've shared on this thread, and I hope you have a happy holiday. Lew

To: Knighty Tin who wrote (38342)	12/6/1998 1:46:00 PM
From: KENNETH R SANDERS	Read Replies (2) \| Respond to of 132070

MB>>>>> And, as former friend <G> Ken Sanders will tell you, it's a good thing I don't, too.<<<<<<<<<<<<<<<<<<<<<< Was it something I said<G>? >>>> But when I am hurt is when I am wrong on fundamentals, as I have been with Page and Gems,<<<<<<<<<<<<<<<<<<Oh too bad I thought you made money on GEMS like SB and I did. No big deal, just 3 grand<G>

To: Knighty Tin who wrote (38342)	12/6/1998 2:39:00 PM
From: Ilaine	Read Replies (2) \| Respond to of 132070

Mike, as always, thank you for your kind, thoughtful and generous response. (That't the initial buttering up so you won't get irked with me when I quibble . . . )<g> What I said, or what I meant to say, was that predictability is a kind of rationality. You expect Haliburton to be priced low now, because oil is low, and because such companies are "out of favor." You expect oil prices to revert to the mean, and Haliburton's fortunes to improve. You expect the attention of those who are paid to call attention to stocks to eventually turn their attention to Haliburton, and Haliburton's share prices to rise. Reductio ad absurdum, you don't expect Haliburton's prices to rocket to 100 tomorrow. You are willing to "hold on til the cows come home," which demonstrates that you expect the cows to eventually do what cows do. (As a farm boy, you know they have to come home to get milked, otherwise they are in pain.) That's not a very profound observation, and I did not mean anything more than that. With respect to your techniques, I believe that I understand that you buy both a put and a call; that the cost of these options limits your overall gains; however, these options also limit your potential loss. As a result, you expect approximately 11% returns. Is that sort of right? Kinda, maybe, sorta? I have been downloading your explanations into a file on my computer, planning to read them all together, I agree with Skeet, you should and could write a book. I haven't asked for explanations of the technique because you have explained things so many times, and I don't want to take advantage of your good nature. CobaltBlue

To: Knighty Tin who wrote (38342)	12/6/1998 2:43:00 PM
From: accountclosed	Read Replies (1) \| Respond to of 132070

MB, One thing that seems missing from lots of analysis that goes on on SI, is that one doesn't always have to have all of one's bets on the table. All moments in a market cycle aren't best suited to a given investor's financial situation or investing style. It seems to me that often the question is "what should I be in this minute for the best return?", when sometimes a better question would be "is now the right time for me to be in the markets 100%?" Turning to a question, with the thirds technique in options, you are regularly losing positions due to expirations. So I take it that often, or most of the time, you replace the position if it is in the first third status. Also, it seems to me, that an expiration might trim back a 2/3 position to a 1/3 position, and I assume sometimes you would stand pat at that point. Can you comment?

To: Knighty Tin who wrote (38342)	12/6/1998 4:27:00 PM
From: don ryndak	Read Replies (1) \| Respond to of 132070

Michael, Since we are both waiting diligently if not patiently for the rise of Midway, I wanted to take it minute to ask for your take on the IT staffing, solutions arena. It seems this market has taken a dive over the last 90 days. I seem to remember that you were looking for KEA to retreat to the 40's, it seems to be attractive enough at these prices to bite off a third. I am also interested in a couple of others that seem to be undervalued at present prices. Can you comment on KEA, IS and TSK? And a belated Happy BD, I sure that your taking advantage of your AARP discount at the track.<g> thanks in advance don ryndak