Russian Crisis - Is it a buying opportunity? Message Board

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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?

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To: Josef Svejk who wrote (146)	9/5/1998 1:47:00 PM
From: Jeffrey L. Henken	of 175

Well Josef we had one heck of a week in the market. Monday's huge sell off was followed by the second largest point gain of all time on Tuesday. Hey Brenda, how did you know? I think for now we can continue to expect more volatility. However, it looks like an interest rate decrease could be on the way. It also sounds like some efforts are being made to stabilize some overseas markets. In Russian Chernomyrdin unveiled a plan that would allow the ruble to float freely and would let poorly-run companies go bankrupt. It might even be a good plan but we won't know until Monday if Chernomyrdin will be approved as prime minisiter. As you know this is a second attempt to gain that approval. So how bad was it last week in U.S. Stock Markets? The DOW closed for the week at 7,640.25, falling 411.43 points or off 5% for the week. The DOW has now lost 10.5% over the past two weeks. The NASDAQ ended the week at 1566.52. The NASDAQ has sunk 27.2 percent from a July 21 intraday high of 2,028.18 to Tuesday's low of 1,475.49. Regards, Jeff

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