Semi-Equips - Buy when BLOOD is running in the streets! Message Board

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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!

LRCX 151.94

+1.1%

Nov 25 3:59 PM EST

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To: Joseph Beltran who wrote (5887)	6/17/1998 12:02:00 PM
From: Mason Barge	Read Replies (1) of 10921

At 11:50 the yen has soared to better than 138/$. This ought to have a positive impact on the sector, but like Jess, I have my doubts about long-term impact. The WSJ had four or five extremely pessimistic articles this morning. I'm surprised at the US intervention, given Rubin's remarks and the paralysis/instransigence of the Japanese gov't. At any rate, if Japan does what it has to do to get back into long-term growth shape, it's going to knock them down even farther in the near term. Most of the big banks (Shanghai excepted) are getting perilously close to the 8% capitalization benchmark. If they go under it, it's going to increase their overnight and long-term borrowing rates, and the World Bank is going to raise an official red flag. (This 8% benchmark was put in place precisely to keep Japanese banks from "dumping loans". They'd better be damn glad right now -- if their loan cap ratio had been under .08 when this started, there wouldn't be a "recovery" even sputtering or possible -- Asia would already be in complete meltdown.)

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