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Gold/Mining/Energy : Abnormal Volume and Block Trades

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To: Ice-Man who wrote (2292)1/11/1998 1:04:00 AM
From: Essam Hamza   of 2340
 
Hi Markus,

I agree about the market outlook and have been calling for a rather bleak picture for '98. I personally wouldn't put any new money into the market for awhile unless I am willing to accept a 20-30% correction minimum.

The NA markets have yet to really comprehend and take into account the Asian effect. Analyst after analyst keeps telling people on CNBC that the NA markets are over reacting to the Asian crisis. That's total BS! They are using their typical narrow minded NA vision and ignoring the big picture. This is a world economy and even if the full effect hasn't appeared yet it eventually will. The trickle down effect will eventually hit every nook and crany of the market if the crisis doesn't resolve soon.

There is talk of a revolution in Indonesia this weekend. If a civil war erupts then watch out next week.

Only one problem with your opinion about Intel. Intel's cost actually have decreased because of the Asian devalutation so I'm still unsure about the upcoming earnings report. It should be close to analyst expectations IMO.

Will be a very interesting week to say the least :)

Good Luck,

Essam.
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