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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (40765)	8/30/2001 8:11:29 AM
From: stockman_scott	Respond to of 65232

From Today's IBD... The Commerce Department revised its data on second-quarter gross domestic product to show a 0.2% gain. That’s down sharply from the 0.7% rise reported a month ago and the weakest since the first quarter of 1993. Commerce downgraded exports, inventories and business spending. The strong consumer helped keep GDP above zero. So did the government, with a 5.5% rise in expenditures. Without that surge in spending from the public sector, GDP would have fallen 0.7%. Japan’s benchmark Nikkei index dropped 209.64, or 1.87%, to 10,979.76 for its first dip below 11,000 since October 1984. The Nikkei has crashed 72% from its all-time high in December 1989 amid a relentless 10-year economic slump. Unloading of shares held between banks and manufacturers, known as cross-held shares, should pick up speed in the next few weeks ahead of book closings at the end of September, when a new accounting method will be introduced. The put-call volume ratio dipped slightly Wednesday, failing to break the key 1.0 threshold as it did earlier this month. Yet the 15-day moving average of the ratio is at the same high levels seen back in September 1998, just before the market unleashed a huge tech-driven rally, according to HaysAdvisory.com.