Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 250.60

-3.1%

11:39 AM EST

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To: roly who wrote (9774)	10/27/1997 10:05:00 PM
From: Joe S Pack	Read Replies (1) of 70976

Roly, I am glad to hear that you have a perfect wife. My wire also called me and let me know in teh mornign that today's market will be down. I was watching the tape all day and went on like our favourite energizer bunny. I think this market sell off is over blown. Look at south east Asian economy and the influence of Hong Kong market on total US market valuation. It is less than 15%. The market reacted as though the entire Hong Kong market has been razed to ground. By the in 87 crash on the following Tuesday FED and MMs worked together to create a positive outlook for the common investors. As per NPR interview with one of WallStreet Journal's award winning journalist, it was an illusion created by the MMs and FED including highest politician. As per his account FED strong armed some of the leading banks to lend money to MMs as they did not have enough cash to keep buying the stocks that had been dumped on them. On Tuesday (after black monday) these MMs kind of used the money to hednge on index Futures big time in Chicago floor. Hope something positive happens tomorrow. I think the stakes are high this time as there is no inflationary pressure and lot of folks are counting on the Street to make their retirement money. If the FED fails to give positive signal and drag keeps unchallenged there will be lot of political heat. Unfortunately it is not Oct. of an election year. I agree that it is one of the greatest opportunities for loading our trucks with a lot of good companies, AMAT is one among them IMHO. Happy bargain hunting. -Karun

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