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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: James F. Hopkins who wrote (18905)	6/30/1999 9:56:00 AM
From: Step1	Read Replies (2) of 99985

James, would you like to comment on my pet theory right now? THe Japanese have made countless comments to talk down the yen lately, eventhough it seems no one is really openly trying to mess with their currency , sooo , since a sharp drop in US equities might//could very well lead to a strong yen in a matter of hours or days, could they have not been foretold by the Fed that there is a big bad news coming the way of the market and that they ought to prepare for it, sort of a courtesy warning, that way, they stand ready to sell yen to keep it at around 120. I find their repeated comments about an ideal level of forex and how they stand by to defend it vigourously a bit suspicious after a while... Very much conspiracy but since we won't know for another few hours what the outcome will be, I thought I would post it here. This came to me after remembering some parts of a book called "The House of Nomura" about the "zaibatsu" of the same name (zaibatsu is no longer in use and used to refer to the large family controlled "industrialists" conglomerates before the war. The American administration set up after capitulation did its best to break them up but the ties were so perverse that many regrouped shortly.) In the book -a biography- Nomura was called upon along with other large brokers and banks - according to the story - to buy buy buy after the crash of 87 in order to support prices. Not suggesting that anything of that sort is taking place among private or public companies, although at the Central Bank level, who know what goes on... Yours Sincerely, Stephan

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