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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (30351)10/5/1998 3:21:00 PM
From: Joseph Beltran   of 95453
 
Slider:

"Japan will do what it takes to reform their banks and the FED will cut again, after Germany.... and we will turn the corner & bounce.. Finally; there is ''blood'' in ALL the streets ! ".

sorry, I don't along with that forcast. Japan has been claiming that it intends to make necessary bank reforms for years now. It's all bullshit and the financial markets give them no credibility. Just yesterday Japan conceded that its biggest banks don't have the minimum reserves required by international standards (indeed, they don't even have the minimum reserves required by japanese standards which are lower than international standards!!) their market went below 13,000 yesterday, a 13 year low I believe. Japan is probably the single most important factor in getting this turmoil to reverse but don't expect anything positive to occur there.
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