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Pastimes : Ask Mohan about the Market

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To: D GALL who wrote (11695)	12/17/1997 9:10:00 PM
From: Zeev Hed	Read Replies (1) of 18056

If Japan whent with a 5 to 10 trillion yen tax cut it would have changed my scenario for a February correction appreciably. But they went with a long term 1 trillion yen deal and if I read correctly later they were talking about a 2 trillion yen deal, but it is not clear at all in the confused news release at what speed this money will get into the Japanese economy, and in the 2 Trillion deal, I am not sure how much goes to consumers and how much to corporations. In any event, that will be barely enough to pop the south Asian rim. In order to further stimulate their economy and prop the bamks they will possibly add to the stimulus some monetory priming (meaning they will sell dollars and get more yens into the economy), which will have a short term negative effect here dur to rise in our interest rates. Thus, I am still staying with the 6200 bottom or thereabout for the Ides of March and a retest in June after a spirited Spring rally). Zeev

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