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

To: Knighty Tin who wrote (48148)	2/21/1999 11:58:00 AM
From: BGR	Respond to of 132070

MB, Welcome but I have nothing to sell as I said. You are the greatest anyway! -BGR.

To: Knighty Tin who wrote (48148)	2/21/1999 12:52:00 PM
From: Bonnie Bear	Read Replies (2) \| Respond to of 132070

MB: I have an obscure tax question for you...can't find an answer anywhere. Can I exchange shares of common and preferred stock of the same CEF issue as a tax-free exchange? TIA... B

To: Knighty Tin who wrote (48148)	2/22/1999 10:20:00 AM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

To All, Portfolio notes. 1. I sold the long stock shares of Keane that were part of a spread conversion in my IRA income account. This in no way reflects on my opinion of Keane, which I still own long in the cap app portfolio. It simply reflects the fact that the premiums no longer set up for a high return, negative risk trade and other stocks do so set up. Just as the Dell spread conversion I mentioned last week was a dud, this was a hero. I made 13% in 5 months, not annualized, but straight on, on a trade where my maximum risk was +3% annualized. I got very lucky. The stock closed at 30 1/8 and wasn't called on my Feb 30 calls. So, I was able to sell this morning at 30 1/4. Sadly, the premiums at this point just don't make me a happy camper, so I will have to switch horses to get the type of income payout I crave. 2. I have sold August 10 calls on my Midway position in the cap app portfolio. This co. has disappointed me and I have been wrong on it. However, I still think the potential is tremendous and the market share is huge and they will turn around. But they say they won't turn around in the first half, so I am allowing the call buyers to sooth my burdened soul on this one. Good Luck, MB