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

To: Knighty Tin who wrote (43409)	1/14/1999 3:53:00 PM
From: epicure	Respond to of 132070

I did not see this posted here yet: Hardware shares dip on earnings fears By Binti Harvey, CBS MarketWatch Last Update: 3:34 PM ET Jan 14, 1999 NewsWatch NEW YORK (CBS.MW) -- Negative sentiment in the wake of fourth-quarter earnings results weighed on computer hardware and semiconductor stocks Thursday. The Goldman Sachs Computer Hardware Index shaved off 0.7 percent and the Philadelphia Semiconductor Index tumbled 2.4 percent amid concern about March-quarter earnings risks for Apple Computer (AAPL) and Advanced Micro Devices. Apple lost 6.5 percent, down 3 to 43 1/2, even after a positive first-quarter earnings surprise. See related story. A downgrade from Salomon Smith Barney accounted for much of the damage, as analyst Richard Gardner said retail channels may be overstuffed with iMacs. Gardner downgraded Apple shares to "neutral" from "buy," citing increased second-quarter earnings risk as a result of the high inventories. Other PC makers followed Apple's lead. International Business Machines (IBM) fell 3 3/8 to 182 1/8, Dell (DELL) lost 5/16 to 79, Gateway (GTW) fell 1 1/2 to 55 1/2 and Compaq (CPQ) dipped 1/2 to 45 3/8. Semiconductor issues also flagged after AMD reported a fourth-quarter profit that missed consensus by 4 cents, excluding a tax benefit. See related story. AMD shares dropped 4 3/4 to 23 as analysts questioned the company's ability to grow earnings in the first quarter. Most chip issues lost steam in sympathy. Intel (INTC) fell 4 1/4 to 134 3/4, Micron (MU) fell 7/8 to 70 1/2 and Texas Instruments (TXN) lost 2 to 91 1/2.

To: Knighty Tin who wrote (43409)	1/14/1999 3:55:00 PM
From: yard_man	Read Replies (2) \| Respond to of 132070

Man are you bullish -- first the prediction for the S&P and now this: <VBG> latimes.com:80/excite/990114/t000003884.html >>He cut his recommended equity fund weighting Wednesday to 40% from 80%. Burke said he "wouldn't be surprised to see an 8%-to-10% correction" in broad market indexes over the next month or two. He added, however, that the latest results differ in one key respect from the high-optimism readings of August 1987 and January 1992 that preceded market downturns. "In both of those previous surveys, the bears were down to around 19%, but now they're hanging in there at 30%. Until we see more capitulation, I wouldn't get too panicked." <<

To: Knighty Tin who wrote (43409)	1/14/1999 3:58:00 PM
From: Robert	Read Replies (1) \| Respond to of 132070

Mike -- 2 questions for you: 1. What is your exit strategy on your puts? I know this is WAY premature, but how do you decide when to sell? I would guess you have price targets, but do you adjust them on the fly? How close to expiration do you ride them? 2. With brokers both ceasing MM coverage and even trading in general in the NUTZ and with margin requirements being tightened almost across the board for trading in the NUTZ, it seems to me that when the time comes, not only will there be a stampede towards the door, but the door is actually shrinking! Are any of these rules made retroactive? Meaning, if margin requirements are tightened, might we start getting a slew of margin calls if the NUTZ ever truly crack? TIA -- Robert