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Politics : Idea Of The Day
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To: TNT who wrote (19081)7/28/1998 3:35:00 PM
From: IQBAL LATIF  Read Replies (4) of 50167
 
Lewisky testimony factor will affect the market atleast until she gives the testimony, the ASEANs will kind of treat this news as a new problem and as such would sell I think we may see Japan selling below that 15700 mark-- I do agree with you that overall we may not see a major impact but it has enough of bite to take five hundred points off DOW . For me it is important to see to it that we capitalise on it if their is an opportunity.

As far as Rubin and Alan Greenspan remain incharge I will not be a very worried man, I know Clinton in serious matters have entrusted responsibility to Rubin and AG-- it is the combination of political appointment of Rubin with that of term appointment of Fed Chairman AG which has kept market steadied and I think this is going to go until Clinton becomes a lame duck but by the time market discounts the prospects of Gore it may be some days and some more damage emanating from the Oval office-- much like you I agree that it is not the content factor it is the perception and confidence factor.

I hope that US is politically stable where the whole of ASEA has seen so much of instability and most of the countries are not yet out of wood. I also worry about Russia in context of US political stability-- I think Clinton- Yelstin axis has played a very crucial role in that package of 23 billion $'s from IMF-- as you know that these payments are extended over three years as such again US political instability is the anchor for Russia. Already Russian market has given up promise of post-package and has seen some huge selling if this continues tomorrow we may see extension of Russian market into eastern European emerging markets and Europe
itself, the contagion just spreads albeit the issue at heart is minute. A weakness in present circumstances in face of continued worries over ASEA will certainly affect US markets. I will like to go for sake of insurance with some protection until all of this clears up and we see some clearer skies. I will wait until close to translate my theory into a trade.

Clinton/ Lewenski sex have all ingredients and potentials of a global fall out. Within a bull trend we have to seek opportunities and with every crisis we have opportunity as well as reason to properly secure our fall back positions. I appreciate your very helpful note. Thanks
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