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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (20313)	9/11/1998 8:53:00 AM
From: Jerry Olson	Read Replies (1) of 50167

Morning IKE very interesting article in the Phila. Inquier.... Asia early in the year bought stocks at high levels...this last Quarter, they dump their stocks at record levels, and went from 7.9 in bonds to 25 billion in purchases... hence the selloff in our stock market & the incredible rise in the bond market... Ike we're near a bottom...if we violate 7400, we free fall from there..we need to hold... with INTC-DELL-ORCL-ADBE reporting solid numbers, that should put a nice floor into the semis-&-semi-equips...they bottomed as well... Asia in a shambles at the moment, and other problems will keep us in a trading range for now...PPI down .04%, still no inflation... Kurlack said the semis are a neutral for him this morning...said any rally is not sustainable.... i'm not sure I concurr... I'm a little surprised at the strenght of the Sept Q in the bellweathers..that's good....i am cautious about the Dec Q, and the 1st Q of next year, but i'll be able to report as we go on what's happening over that period...we must be prudent here...but we can begin to accumulate these techs at these levels for investment purposes...the downside risk is becoming less & less... anyway we keep trading the flux, and dipping our beaks into the abyss...fun huh????...........:>}

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