Berney, if anybody can say anything about Intel, it is that Intel is the *ultimate-sneak-attack* stock.
This morning in London it traded down around 3/8, opened down here and has been climbing since. No idea why.
For you Euro players, you've probably heard this (I got it via Bloomberg TV this morning):
A high roller analyst (didn't catch name) from a UK bank stated that Asian companies borrowed heavily from Euro banks. The banks have heavy reserves, and *should* be able to withstand the current debacle
in Asia. The thing that caught everybody by surprise is that (as we all know) that reporting and disclosures of these loans by Asian companies was insufficient and was a contributing factor to the mess.
Second, should China depeg the Hong Kong, in the administrator's words: "Unimaginable consequences" would occur.
What do these things lead to? IMO: Asia continued weak, Euro to be impacted, and the whole thing doesn't begin to clean itself up until *WAG* July/Sep 98. We'll likely see some major buying opp. The first one could be caused by that nasty rumor that Iraq used nerve agents on their prisoners -- poo poo on them for it, ergo lets shoot a few Tomahawks up Saddam's butt again (just a warped couple of thoughts).
Best wishes!!
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