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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Dalin who wrote (18861)	10/14/1999 9:45:00 PM
From: 2MAR$	Respond to of 108040

Sounds like Greenspan is sending out signals: biz.yahoo.com ....& the effect of it now in Hong Kong (REUTERS) HK stocks seen tumbling on Greenspan comments HK stocks seen tumbling on Greenspan comments HONG KONG, Oct 15 (Reuters) - Hong Kong stocks are expected to fall on Friday after remarks by Federal Reserve Chairman Alan Greenspan triggered concerns about a correction in U.S. stocks and a surge in U.S. long bond yields. While emphasizing he was not predicting a stocks crash, Greenspan told a banking-related conference late on Thursday that sudden losses in investors' confidence "will inevitable emerge from time to time" and said financial institutions should boost reserves to take account of that possibility. "The market should open down due to Greenspan's remarks, which came after the New York market closed and has pushed the S&P futures down," said Alex Wong, research manager at OSK Asia Securities. A surge in long bond yields overnight also rekindled fears about a possible interest rate rise, he added. December S&P 500 stock futures were down 10 points at 1,280 at 0124 GMT after hitting a low of 1,271.30 earlier. The 30-year U.S. Treasury bond was off on Thursday, yielding 6.32 percent, the highest level since October 1997. Wong said the Hang Seng Index <.HSI> could fall to 12,300 points with a strong support at 12,200, Wong said. The blue chip index closed up 10.95 points or 0.09 percent at 12,486.82 on Thursday. MORE * end of story *

To: Dalin who wrote (18861)	10/14/1999 10:13:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 108040

yep, it was. Uncle Al ran his mouth shortly after the close today about the US equity market "As I have indicated on previous occasions, history tells us that sharp reversals in confidence occur abruptly, most often with little advance notice. These reversals can be self-reinforcing processes that can compress sizable adjustments into a very short period. Panic reactions in the market are characterized by dramatic shifts in behavior that are intended to minimize short-term losses. Claims on far-distant future values are discounted to insignificance. What is so intriguing, as I noted earlier, is that this type of behavior has characterized human interaction with little appreciable change over the generations. Whether Dutch tulip bulbs or Russian equities, the market price patterns remain much the same. " federalreserve.gov