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To: LLCF who wrote (150582)	2/11/2002 11:39:38 AM
From: GraceZ	Read Replies (4) \| Respond to of 436258

Hey, get with it dude. Half a day of short covering and the bull is back! Don't let it bother you that the NYSE which has put in a huge distribution top over the last two years while the Naz was selling down to pennies looks like it wants to follow the Naz down that hole. Meanwhile we're recovering from a recession that never really happened yet. Don't let it bother you that almost no one can make money. Everyone concentrates on the accounting shenanigans but nobody asks the real question which is why can't anyone make money? And whatever you do don't pay attention to the fact that the second largest economy is being sucked into a black hole and the government has instituted a "stock-buying entity". I mean, that's good isn't it, when a government intervenes in a free market to prop up stocks prices, right? Japan urges stock-buying body to act (UPDATE: Combines comments by Shiokawa, Yanagisawa) TOKYO, Feb 8 (Reuters) - Japan on Friday called for quick action by a stock-buying entity to fight a selloff that has pushed Tokyo share prices to 18-year lows this week. The entity was set up last month to absorb banks' offloading of their huge shareholdings, which tends to exacerbate the market's supply/demand imbalance ahead of the March 31 book-closing every year. ``February has, at least for banks, been a month to sell off their shares,'' Financial Services Minister Hakuo Yanagisawa told a news conference. ``The stock-buying body was set up precisely to absorb such selling. If February is such a month, there is no excuse for not functioning at that crucial time.'' He said administrative issues appeared to be responsible for the slow startup of the entity, which was formed as part of a government economic support package unveiled last April. The Nikkei average of Japanese share prices fell to an 18-year closing low on Wednesday after a relentless four-day selloff. It was up 0.99 percent on Friday morning after comments on the stock-buying body by Yanagisawa and Finance Minister Masajuro Shiokawa. Shiokawa said he wanted the body to start buying stocks in earnest as early as next week. ``We must halt this fall in shares. It's like diarrhoea, we must stop it,'' Shiokawa told a news conference. Shiokawa said he wanted the Ministry of Finance to provide two trillion yen ($14.96 billion) to the state stock-buying body to buy shares from banks. An official source said Shiokawa apparently was referring to the entity's two trillion yen of financing guaranteed by the government. Shiokawa also said Japan should make a strong statement against speculative stock market trading such as short selling, in which traders sell shares they do not own with the aim of buying back later at a cheaper price.