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Technology Stocks : Cymer (CYMI)
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To: Jess Beltz who wrote (9589)11/14/1997 4:07:00 AM
From: Jess Beltz  Read Replies (1) of 25960
 
A small word of caution from the Far East. Hong Kong was up today (236 points, 2.43%), but the Nikeii was down another 345 points (-2.23%.) The Nikeii currently stands at 15,082. A fall from here of a little over 7% takes it to 14,000 and an absolutely critical level for Japanese banks with respect to their solvency will be reached. If Japanese banks start to dump their Japanese equities holdings (as the Bank of Yokahama did) in anticipation of a continuing decline in the index, it will hasten the fall. I wonder if Wall Street will notice this! I think it might. I sincerely hope that the short interest covers tomorrow, but I'll bet some of them smell real blood in these numbers. We'll see. Today will be interesting, one way or the other.

jess
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