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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (21329)	7/28/1999 8:53:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Dennis; I went in not to long after that post, but not very deep, and I stand ready to short em off if I need to. I see gap down again in the morning but then maybe another rally..a lot now hangs on the dollar, any more down side in it could trigger a sell off. ------------- They better think about them so called tax cuts, 36% of our debt belongs to forieners now thanks to Nixon selling out our sovernty, and they won't like the idea of a smaller tax base as risk to Gov bonds is based on ablity to collect tax, all we need is a sell off of bonds now, and there won't be any Tax collect to give us a break on, so what good does a tax cut do there if you can't make any money. Particularly if they cut Cap gains,,,the gains will go out the window..old money will pull out , & muni bonds will fall more, they better pay off some of the debt if they can, that helps everyone except the fat cats who love to keep it up and run the yen carry trade on it. -------------------- They are going to mess around with crap they don't half understand and kill the dollar until we are paying $50 a barrel for oil and $5 for a gallon of gas. -------------------- They need to get a Tobin Tax on currecy swaps then cut the tax on the average man. Jim