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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Gordon A. Langston who wrote (14636)10/15/1998 9:23:00 PM
From: Joey Two-Cents   of 18691
 
From what I read, the IMF package for Brazil is not enough and $ reserves are being drawn down to the tune of $ 400M per day. A lot of economic stats coming out of Brazil shows their economy is slowing down. The interest rate cut by AG may buy them some time but I doubt it will cause much of a drop in their 40% interest rates.

Ihave a friend who works for Travellers in emerging markets and theiy're not investing in any of the emerging markets. Also, they sold all their bank paper for fear of more hedge fund and foreign exposure land minds. Without foreign capital all the emerging markets will be toast.

The Washington Post reported that someone in the Fed said that there would not be any rate cut before Novemeber. Unless their was a crisis. Hmmmmm.

Theres 100 trillion $'s in derivatives and it looks like the unwinding is begining. Buy puts, buy gold, hold cash.
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