Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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To: Dr. Seuss who wrote (205)	9/13/1998 10:52:00 AM
From: Dr. Seuss	Read Replies (1) of 19428

To all, Japan not looking good next week. biz.yahoo.com My guess is that we see a pop up on Monday followed by some big selling late Monday, Tuesday and/or Wednesday. The markets are closed Tuesday in Japan for "Respect for the Aged Day". My feeling is that the Clinton problems are taken more seriously in Japan and they may be looking at a "more worse case" scenario here than the average American. Are they going to want to hold stock over their holiday with the uncertainty of Clinton's future? Other information updates in Japan this week.... Ministry of Finance to release current account data for and investment data for July at 8:50 JST Monday (2350 GMT Sunday). Shoko Research/Teikoku Data releases corporate bankruptcy data for August at 1:30 p.m. JST (0430) on Monday. *Bank of Japan releases minutes of Policy Board's July 28 meeting at 2:00 p.m. JST (0500 GMT) on Monday. Any one of these three (especialy the after market bankruptcy data on Monday) could shove Japan much further down. They closed below 14000 (key psychological factor, they finished off Friday, down 5.11%), Clinton's ZipperGate and the desire NOT to hold stocks over their holiday given the uncertainty here, will cause more selling in Japan on Monday. What will that do for the Dow? Not sure, but it doesn't look good. Most other International markets closed down last week (32 of 45). Add all this up with US investors already eyeing their retirement accounts dropping big the last month and I think we will break below 7400 this coming week. If we do, I think key psychological factors will drag us further down. Moreover, it seems like Fridays rally was based on Intel and a few other stocks doing well, something that can't continue in the face of the problems in Japan and elsewhere. Sorry for the ramble....guess what I'm trying to say is don't panic cover on Monday......my guess is that we will be dropping to new lows by Wednesday or Thursday. Dr. Seuss

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