Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Market Tracker who wrote (14191)	9/30/1998 8:18:00 AM
From: Joey Two-Cents	Read Replies (1) of 18691

MT, The Japanese closed their books on the 3Q last night and the market is at 12 year low down 3% last night. This doesn't bode well for their 3Q valuations. Japan has 4x's GDP in derrivatives that may need to be unwound, US banks have $ 30 trillion in derrivatives, the world has $ 60 trillion in derrivatives. What will happen if/when the contracting parties start to default on their obligations no one knows. RJR, Disney, Gillette, Citigroup, Boeing the list goes on with losses and layoffs. I said this back in April, only when the Sheeple fear they're in danger of losing their jobs will the market start its descent and the baby boomers (to young to retire to rich to gamble) will head for the exits.

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