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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: limtex who wrote (73266)	5/31/2002 10:23:20 AM
From: t2	Read Replies (1) \| Respond to of 99280

No immediate threat of war with Pak: Fernandes This why this war fear related selloff is the best buying opportunity. Too much is being made of the US talk of war and evacuations, imho. Financials/biotech/technology all beaten up a bit too much. All due for a good bounce and gold due for a pullback. Friday, May 31, 2002 (Singapore) Defence Minister George Fernandes, who is in Singapore for a regional security conference has dismissed the immediate threat of war with Pakistan, describing the situation along the border as stable. "The troops on both sides have been in a kind of eyeball to eyeball situation for the last six months, so I don't think one needs to worry just now, as to what is likely to happen," Fernades told reporters after parleys with US Deputy Defence Secretary Paul Wolfowitz. Wolfowitz had earlier warned that that an Indo-Pak war could have catastrophic consequences. “We have kept our engines running” Meanwhile Air Chief Marshal S Krishnaswamy has said that India is fully prepared to counter any threat from Pakistan. “While war is not in the interest of either country, if needed, our defence forces are well prepared. In the event of a war, we are ready to give a fitting reply. We have kept our engines running. Whenever needed, all we have to do is start, put them into gear and go”, he said addressing journalists on the sidelines of the passing out parade of the 102nd course of National Defence Academy (NDA) at Khadakwasla. Referring to Pakistan President General Pervez Musharraf's speech, Krishnaswamy said, “Since he has made himself the President, he has to speak to please his people. But what he speaks and what the reality is, could be miles apart.” He said that the Pak General, donning the role of a politician, “could say anything from nuking India to demolishing it as his speech was meant for the nation”.