Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: clochard who wrote (10226)	6/17/1998 11:48:00 PM
From: Joey Two-Cents	Read Replies (1) of 18691

Rubin has been made a fool a day after stating the Yen will be allowed to fall and the US would not intervene. The question is who made the president act China or Japan. I wouldn't be suprised to see Rubin (who's been looking to leave anyway) step down before the sh*t hits the fan later. Maybe we can build up a frothy market hit new highs and then have the devastation of a crash be that much more painful. You know things are bad when bonds have a tremendous selloff and stocks have a tremendous rally. On this weaker $ and higher interest rate action bank stocks rallied even more then the market in general. The trouble that banks face in Asia will be the lynch pin that derails this market. This will be triggered by either Russian default, Chinese devaluation or Japanese financial collapse. China intesifies pressure on Japan to firm up Yen insidechina.com Govt prepared to implement stimulus package satellite.nikkei.co.jp Japan dept. store sales resume decline in May. satellite.nikkei.co.jp Japan's LTCB touches record low biz.yahoo.com China official issues blunt Yuan warning biz.yahoo.com US, Japan support Yen biz.yahoo.com Clinton and Hashimoto agree on the need to defend the Yen biz.yahoo.com China watching Yen closely cnnfn.com

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