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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Cynic 2005 who wrote (17828)	9/17/1999 7:19:00 PM
From: Rational	Read Replies (2) \| Respond to of 18056

The real equilibrium is one in which all "hard" currencies (yen, dollar, and euro) lose values against the developing countries' currencies. This readjustment will solve the international debt-overhang and the current imbalance. For example, why should the real purchasing power of INR be Rs 5 per US$ (by WB estimates which are believable based on my experience), while the "stupid market" rate be Rs 43.5 per US$? It is the market stupid, that must correct itself. The solution will be more due to socio-political adjustment than the economic forces hereafter.

To: Cynic 2005 who wrote (17828)	9/21/1999 4:54:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 18056

Follow-up on follow-up! Friday closed with a blow-off DUNG rally of 63 points. And DOW was up about 68. On Monday DUNG was up 16 and DOW 20. Today is a 2% down across the board day: DJIA 10598.47 -225.43 ( -2.08%) NASDAQ 2821.10 -65.05 ( -2.25%) S&P 500 1307.58 -27.95 ( -2.09%) My expected 200 point swing days (to the downside) have arrived. It is logical to expect the market to follow today's lead. Then again, this market is anything but logical. i.e. WTFDIK?