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Politics : Idea Of The Day
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To: Helen MacMillan who wrote (20921)10/18/1998 3:32:00 AM
From: IQBAL LATIF   of 50167
 
Helen--OT

Pakistan has a serious economic problem, we were dependent on IMF bailouts for last 10 years heavily, with sanctions as a result of nuclear showdown we have problem to balance the $ defecit, Pakistan has also been very aggresive in building new power plants on short term borrowed money and very steep prices the stock market is capitilised with some of these Poer companies and their stocks have taken a hair cut as a result of inability of the country to pay in $'s we are in a technical default, so markets are down aniticipating a bail out like Russia..

On cross rates I would look for big moves, like Yen at 112 or 122 within four hours I will like to make out the reasons for such moves and will like to assume that these moves reflect end of unwinding or any thing behind the scenes which market is not aware off-- I come to know of people standing in the markets by looking for spotting major trend changes like bond break was one yen strength at 112 was another, and move to 120 for me represented that most of the unwinding has been done like in case of bonds the break reperesented that most of the speculative positions are out of the way, these things gives you minutes advantage, we try to capitilise on them when we are wrong we pay for it..DEM/Pound gives me a special reason to watch I am short pound and like this trade. Thanks--
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