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To: dbblg who wrote (69620)	7/26/1999 4:42:00 AM
From: dbblg	Respond to of 164684

OT China Apologies if this has been posted already, but the NYT article this weekend about the Chinese economy was quite good, I thought. Until now I have believed there was no chance the Chinese gov't would devalue, since they seemed to accept the U.S. Treasury line (oversimplifying: the harm done to the Chinese financial system would outweigh any transitory competitive benefits). There seems to be a pretty coordinated effort to back away from this position. If handled correctly, this needn't be a big deal, but it is certainly something to keep an eye on. FWIW, I am hiding in cash (and daytrading a little) for now, primarily because a bunch of the recent leaders (especially semis) started to fall apart last week. My WAG is we bounce here but set lower highs, but I'm keeping an open mind. best of luck everyone... link: nytimes.com