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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: smolejv@gmx.net who wrote (6913)	10/10/1999 12:47:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 11051

DJ:" EuroStox " >Any special European products you are looking for ? ...the EuroTels bounced smartly last week : *DT - Deutsche Telekom* = +11.8% (+39.1% YTD) BTY - British Telecom = +8.1% (+9.1% YTD) TEF - Telefonica d'Espana = +6.5% (+13.2% YTD)** ...and FTE - France Telecom has been on a tear for awhile. Not to mention NOK - Nokia, but that's altogether another animal ! Sometimes, activity in national telecom ADR's foreshadow broader kapital flows. Globally, I would have taken some profits in NTT - Japan and moved it over to a basket of EuroTels at the end of QTR-3... Reasons would include: relative valuations; higher yields; and perhaps more comfort with / confidence in the stability of the euro. Should *oil prices* stabilise, one would expect the U.S. "current account" (trade deficit) to improve QTR-4. Emotionally, I suspect a lot of folks will be motivated to withdraw kapital from equities because of Y2K angst. This may help stabilise bondz and other, fixed-income instruments, dunno. The greatest impact of the Fed's rate hikes has so far been evident in new construction activity. So far, construction workers are having no difficulty finding work in industry and service sectors; shortages in building materials persist because of (wealthier municipalities' tax bases) lots of public works activity, plus storm/flood reconstruction in North and Central America. Wages over here are increasing relative to productivity but, the Cost of LABOUR doesn't seem to be "inflationary", yet. Other than the Cost of ENERGY, (obviously politically expedient because Texans control the Republican party) the most "inflationary" trend has been - ironically - the Cost of KAPITAL (^_^) Some of us over here are grumbling that, if Greenspan keeps "fighting inflation" by increasing the Cost of Kapital, it will be a self-fulfilling prophecy ! -Steve