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

To: PaperChase who wrote (40032)	12/19/1998 8:54:00 AM
From: KENNETH R SANDERS	Respond to of 132070

PC, Who was that masked man? I wanted to thank him for opening the window and letting in the fresh air. <G>

To: PaperChase who wrote (40032)	12/19/1998 2:47:00 PM
From: Knighty Tin	Respond to of 132070

PC, The bulk of my profitability on puts has been catching the MU's, ISSI's, S3s, etc. at all time highs. They fell apart totally in what is certainly not normal volatility. It was just investors temporarily getting less than insane. And this profitability was in a market bubble that is unprecedented in history. The Street will not be able to spin the bloat in the channel. They couldn't this Summer when the tech stocks crashed and burned. However, The Printer did kick out huge amounts of money to get the speculative juices running again and the ignorati bought into the scam. Which gives me another chance at put profits from these silly levels. BTW, I have made a lot of money on puts on the cos. you mentioned. When I see the lies about to heat up, I take some money off the table. That isn't playing volatility as much as the gullibility of the brain dead bulls. It is true, as long as the mentally impaired are making more money than they can spend or at least enough to keep borrowing at record rates, they could keep buying the same 50 stocks forever, no matter what the price. You are certainly not the only one who challenges my thinking. Myth Man and Mary are among those who challenge it politely. And there are scores of flamers. <G> Many of those who base their lives on the religion of the herd cannot stand to be told that they are pawns being manipulated. Which is what makes it fun. I would take one exception to what you have said. The tech stocks on which I have bought puts (forget the bank stocks, the airlines, the drugs and all the other huge winners in other industries) are not mostly higher today. Most of them are dead meat. They crashed and stayed crashed. Names like Atmel, C-Cube, S3, Cirrus, ReadWrong, Western Digaditch, Picturetel, Presstek (not really a tech stock except for the last 3 letters in the name <G>), Integrated Silicon, Cypress, Alliance Semiconductors, Jabil, etc. have not come back much from their lows and most are below where I finally stopped playing them. Others, like MU, Compaq and GTW have come back to give me another shot. IBM is more of a special situation, as their pr machine is like nothing I have ever seen. For a co. with phony accounting and still no growth to sell at 30 times earnings is a true testament to the ability of the masses to be duped. Most of the stocks on which I have bought puts have fallen and can't get up, including the tech stocks. Best, MB