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Technology Stocks : AOL Traders
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To: IKM who wrote ()11/25/1997 11:15:00 AM
From: IKM  Read Replies (1) of 94
 
Last night during the football game, I saw a Prudential Securities ad. They had their economist spouting authoritatively that the U.S. economy is strong and that it's a good time to be investing in the market. Doesn't that give you a lot of confidence. The U.S. market is in a bit of a cocoon just now, a recipient of a lot of soothing words from government officials and financial insiders. But in Asia, there is still a lot of fear bordering on panic. The damage done to their economies is real, it's not confined to the markets. How many IMF bailouts can we have? Sure Tokyo has a lot of foreign reserves and is a different case, but what happens when they have to draw on those reserves. Japan's major markets, the rest of Asia, are already in the toilet. The U.S. sells a lot to Japan and the rest of Asia. This correction is just beginning and it is going to be brutal.
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