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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?


To: Daveyk who wrote (2028)10/23/1997 5:15:00 PM
From: Bosco  Read Replies (1) | Respond to of 37387
 
Dave & all - hope you and everyone else are still in one piece. I am - cuz I did not watch the ticks <vbg>. I figured that it was too late for me to run, so I stuck my head in the sand and prayed for a better week!

Looking at the last 2 weeks, maybe we simply sell everything on Wed at the open and buy them back on Fri at the close <g>.

Alan Greenspan is giving a speech tomorrow. The PR speculates that he may speak off the cuff but will stay away from the stk mkt. Depending on how BAD things are, he may try to (subtly) help to stabilize the irrationality abit.

Iris, I think the Hong Kong predicament can be unstuck not by itself hiking the overnite rate, but by arranging a summit among various Central Banks. A concerted effort to defend the currency can fence off a speculative attack on its currency w/o too much economic pain. It should ve been done a long time ago if not b/c of some of *nationalistic* govts like Malaysia who would use foreigner bashing to secure its political base [What? Me a Keynesian? <vbg>]

rgds Bosco



To: Daveyk who wrote (2028)10/23/1997 5:38:00 PM
From: Crossy  Respond to of 37387
 
Dave,
it's disgusting that Hong Kong failed monetary policy (setting interest rates to 20% without ANY inflationary pressure thus forcing a recession just to "peg" their currency) should have the effect on the rest of the world the market currently assumes. Bring the central bank there back to reason. At any cost. They spoled the market, they should fix it up.. <G>

regards
CROSSY