Russian Crisis - Is it a buying opportunity? Message Board

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Strategies & Market Trends : Russian Crisis - Is it a buying opportunity?

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To: Laser who wrote (24)	8/30/1998 12:45:00 AM
From: Jeffrey L. Henken	Read Replies (3) of 175

Alright lets look at some scenarios which could help to turn the tide if indeed any added impetus is necessary. Substantive talks between Clinton and Yeltsin that result in not only stabilization of the ruble but an actual increase in it's value. The Fed admits they are going to have to lower interest rates again. The selling simply ends as all those fearful pessimistic sellers blow out their positions into the hands of greedy investors picking up what they perceive to be bargains in virtually every area of the market. Lets be serious. News of instability in Russia always scares Americans. It's not because they have ever been an economic super power. It's because they have a ton of nuclear weapons and we don't ever want the wrong hand in control of those launch codes. I started this thread because I think that selling U.S. stocks because Russia is having a financial crisis is a big mistake. Could I be wrong? You bet, but stop and think for a minute about how the strength of just a handful of stocks and the internet media stock madness has already masked a prolonged sell off in our stock market. What precipitated this sell off was not problems in Asia and it's certainly not Russia. If you ask me it was Mr Greenspan hinting that the next move in interest rates would be up. Give me a break! I am going to start using this guy as an indicator of when to go into cash myself. He was lying. There is no real inflation and there never was any real inflation. The stock market was over valued and now it's not. So when will the stock market recover? Well my good friend Brenda Greer says Tuesday. So lets say Tuesday. If it's not Tuesday then we can blame her for a poor prediction. I mean hey, I really thought it would have started already. Check out the next post for CNNfn's take on the correction or is it a BEAR MARKET? Regards, Jeff

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