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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: sepku who wrote (6881)	10/27/1997 10:57:00 PM
From: Jess Beltz	Read Replies (2) \| Respond to of 25960

Here in Hong Kong, a full scale meltdown is underway. The Hang Seng Index is down over 1,600 points (15.5%). Except for the obvious, this is the most ridiculous economic event (the sympathetic crash in the US) that I have ever witnessed. There might be other problems with the economies of neighboring countries with some (albeit small) effect on some US companies, but there is absolutely nothing that could happen on this little rock with respect to its economy that should have any kind of impact on the US economy like what is now going on. Furthermore, the causality almost always goes in reverse. Asian Stock Markets react to what happens on Wall Street. The American Economy is slowing a bit but basically is rock solid. What is happening in New York is pure panic selling, driven in large part by the perception that one should get out with some profits while one still can. It's what we call a bad Nash Equilibrium: if you know the price will be lower at the end of the day than it is at the moment, you should sell too! jess.