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Strategies & Market Trends : Waiting for the big Kahuna
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To: Monty Lenard who wrote (24774)8/22/1998 12:23:00 AM
From: Gersh Avery  Read Replies (1) of 94695
 
Monty Re "what brought this BIG sell off on"

Message 5531646

I think that the majority of reserves are being held in the form of US bonds. Large amounts of these will have to be sold off to generate the cash for the support move. Net effect will be a drop in the value of the dollar .. with the dollar falling any drop in the market will look much worse to a foreign investor.

Of course .. we are talking about next week.

Gersh
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