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To: Bill F. who wrote (63705)	9/24/1999 6:21:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 86076

Bill, excellent rap tonight! <<So earlier in the year, when oil was down, the government wanted to buy oil and now they want to sell it. Why don't they just leave well enough alone, is what I'd like to know, and quit monkeying with the markets? >> <<Bubblevision banter... And as long as I'm letting everyone else write the Rap this morning, I'd like to quote Bill Meehan from his morning notes that he sends out from Cantor-Fitzgerald. "I even heard a TV reporter yesterday morning constantly state that he could think of no reason for the market to reach the ambitious targets recently touted on air, but 10 reasons why the market should go down; so naturally the market will progress to new highs. So much for objectivity. It never once occurred to him or to the gentleman he was speaking with, and probably most viewers, that with more than 60 percent of all NYSE stocks already under water for the year, so many negatives might actually well be not so very positive." >> I think a good point to make is that contrary opinion or being a contrarian doesn't mean the facts that exist, don't exist. What you're attempting to do is capture people overreacting to that set of facts. At the moment, no one is overreacting to a negative set of facts; they are all saying, gee, well everyone knows about these negative facts, therefore they don't matter, therefore we don't have to react. When people panic about negative events, then the contrarians will take the other side of that panic. So there is so much banter on bubblevision that sometimes I think it's easy to lose sight of what things you can fade and what things you can't fade. The facts are the facts, and all you can do is try to take the other side of people's overreaction to those, both on the upside and the downside.

To: Bill F. who wrote (63705)	9/26/1999 8:08:00 PM
From: Lucretius	Respond to of 86076

got gold? Sunday September 26, 7:48 pm Eastern Time TEXT-Statement on gold by European central banks WASHINGTON, Sept 26 (Reuters) - Following is the text of a joint statement issued on Sunday by 15 European central banks on gold sales from their reserves: The European Central Bank and the central banks of Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, Switzerland, and England. Statement on Gold In the interest of clarifying their intentions with respect to their gold holdings, the above institutions make the following statement: 1. Gold will remain an important element of global monetary reserves. 2. The above institutions will not enter the market as sellers, with the exception of already decided sales. 3. The gold sales already decided will be achieved through a concerted programme of sales over the next five years. Annual sales will not exceed approximately 400 tons and total sales over this period will not exceed 2,000 tons. 4. The signatories to this agreement have agreed not to expand their gold leasings and their use of gold futures and options over this period. 5. This agreement will be reviewed after five years. -------------------------------

To: Bill F. who wrote (63705)	9/26/1999 8:53:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 86076

i see that Taiwan has discovered a way to destroy the evil shortsellers and ensure shares never fall -g-..... i fully expect the Clintonistas to initiate something similar once the bottom falls out here... you may have receive a court order to cease and desist all unamerican shortselling activities (BG) Sunday September 26 12:42 PM ET Taiwan Market To Limit Share Drops By DIRK BEVERIDGE AP Business Writer TAIPEI, Taiwan (AP) - Fearful of panic-selling on the Taipei Stock Exchange, officials said Sunday night they will impose emergency limits on how far shares can fall in reaction to the killer earthquake. The market has been closed since the quake struck Tuesday. It reopens Monday, and analysts expect a steep dive in prices on concerns about economic fallout from the disaster. Finance Minister Paul Chiu said individual shares temporarily will be allowed to fall by no more than 3.5 percent each day - half the usual daily limit of 7 percent. Chiu said the new limits will ''ensure that market order can be sustained.'' The emergency measure will last two weeks. Analysts predict that Taiwan's 1999 economic growth will be cut to around 5.5 percent, compared to previous projections of 5.7 percent. Interest rates and unemployment could rise as the island struggles to bounce back from the quake that killed more than 2,000 people. The government said information about the quake's impact on Taiwan's listed companies is still sketchy, making it difficult for investors to make informed decisions. Chiu said Taiwan's ''comparatively vigorous'' economy can soon recover from problems brought on by the quake. He urged investors to stay calm. ''This short-term move will pass quickly,'' he said. ''It will not go so far as to cause any panic.'' Investors around the world are most concerned about the quake's impact on Taiwan's crucial semiconductor industry. Manufacturers here make 10 percent of the world's chips and about 80 percent of the ''motherboards'' used to run personal computers. The semiconductor makers did not suffer much physical damage at their plants. They are located mostly in northern Taiwan, far from the quake's epicenter in the central part of the island. But power blackouts kept them out of business last week and it remains unclear how soon they can be up and running. Workers will need to recalibrate the sensitive manufacturing equipment, and even if the plants get back into business in the next few days, the companies will have lost at least a week's worth of production. That could lead to supply glitches in the global computer industry, experts say. --------------------------------------------------------------------------------