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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: OVETUS who wrote (36165)	1/4/2001 6:02:08 PM
From: Jeff Jordan	Respond to of 50167

interesting? missed first-quarter payment amounts to about $1.5 billion. ....hmmmm, doesn't seem like much? January 04, 2001 11:19 Russia will reportedly skip payment on massive debt By JIM HEINTZ, Associated Press MOSCOW (January 4, 2001 11:19 a.m. EST nandotimes.com) - Russia reportedly won't make its first-quarter payments this year on the billions of dollars of debt owed to nations known collectively as the Paris Club. But the decision "does not mean and has nothing to do with a declaration of default," the Interfax news agency quoted Gennady Yezhov, spokesman for Finance Minister and Deputy Prime Minister Alexei Kudrin, as saying on Thursday. "A decision on the former U.S.S.R.'s debts will be found after an International Monetary Fund mission comes to Moscow in late January or early February," he said. Russia owes about $48 billion, racked up by the Soviet Union, to the Paris Club countries, a group of industrialized nations that includes the United States. The debt was defaulted on in the 1991 collapse of the Soviet Union and again in the August 1998 financial crisis when the ruble's value plunged. But Russia's economy has shown signs of significant growth over the last year and the reason for the delayed payment was not announced. Yezhov could not be reached and the ministry said no one else could comment. Russia owes about $3.5 billion in interest payments on the debt this year, and the missed first-quarter payment amounts to about $1.5 billion. newsalert.com

To: OVETUS who wrote (36165)	1/4/2001 7:44:52 PM
From: TWICK	Read Replies (1) \| Respond to of 50167

I can relate. Feel the same way. Nothing changes with this rate cut. If there are no earnings to drive the stocks up, what good is a rate cut going to do in the near term. Soft landing ?? I think this plane is coming in hard and Greenspan is trying to push all buttons in the cabin, including reserve parachoot. Ding. The pilot has turned on the "fasten seatbelt" light. Ding. Ding. Ding. Oxygen masks deployed, and "duck and cover" light activated. From the cabin you can hear... "Captn' She can't take much more !!! " lol

To: OVETUS who wrote (36165)	1/4/2001 10:47:32 PM
From: Condor	Respond to of 50167

"Average person has no business being in the market." THAT is rather elitist I believe. I know many, many seasoned market players who have been proven wrong time and again since April 2000.

To: OVETUS who wrote (36165)	1/5/2001 12:22:42 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

In my opinion Market reaction on Californian utilties drawing on banks lines of credit is hitting the BKX hard, the employment report with prices paid slightly higher is another concern, the Fed rate cuts is start of change of stance, now the problem is that market reads new warnings as spate of new bad news and is ready to ignore good news like NOK taking position of number one telecommunication company or like yesterday BMCS better than expected numbers or T emrging as a valuation with 30$'s, the naysayers are quite a few and the short interest is huge, we need to see that we trade off SPY and for that key supports are important to maintain we broke through the 1328 straight otday our next level is 1300 or even 1292 I would like that test of these today should be successful and from that we should bounce. Assuming that californian worries are rumors and the BKX index gets supported here, I see no reason that 1300 support may not be maintained, I believe that housing starts number shows a far better economy than what market tends to think, the good news at the moment are being ignored even more warning expectations are little on extended lifeline,and this last Friday of the trading week has a classic dual between the longs and the shorts and SPX trade supreme, the contraction and the reduced economic growth is well built within the market and I think that market that trades on future anticipation will recover from the pressure today..one needs to look at housing starts, the NOK's the emplyoment report showing little higher prices paid and claifornian utilities, the net effect is not dilution of the long term impact of the easy money but a kneee jerk reaction to put the bear in control that I will only think is possible if 1272 is out until that point one should be nimble in long puts and try to avoid overnight long put positions, I will trade a break below 1288 to 1274 but I will look at this as a market that is confused..