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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (30799)	8/10/1998 11:24:00 AM
From: cardcounter	Read Replies (2) of 132070

Thanks, but always split 8's/aces, never split 10's/5's. Looks like that luck you bestowed on me paid off. Got a 50% return on my initial gambling stake for a big ol' $200 in 4 hours. So, no free buffet for me. Worse part about the outing was that my newbie friend had a higher percentage return than me and he was just playing basic strategy. Yen is now at 146.6 and I'm hiding under my desk. China can't devalue the yuan without indirectly devaluing the HK $ (because the speculative run would consume the reserves). My fave currency commentator, David Derosa (used to be with TSC, before Bloomberg scalped him) is saying that china must free both currencies from their non-market official exchange agreements in order to achieve its economic/political goals in the intermediate future. Otherwise, it (china) will continue to be dragged down. I like free market forces in the long run, but I'm worried about the short term effects (esp. on the US equity market). Any comments or thoughts?? btw, checking the SANG thread, someone suggested that the stock's late week run up last week was shorts covering. Short interest continues to go up in the stock, but I think it's a bargain below 25.

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