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To: Dulane U. Ponder who wrote (37920)	10/27/1997 11:40:00 PM
From: Jason Dekker	Read Replies (1) \| Respond to of 186894

Could be ugly in the morning! Nikkei down 792 points to a new 52 week low. Hong Kong down 15.45%. Buying puts in the morning. Good luck to all! JD

To: Dulane U. Ponder who wrote (37920)	10/28/1997 12:04:00 AM
From: laleh	Respond to of 186894

I might also be wrong, but i believe they curb the program trading before they halt it all. It is not voice of reason that's rulling the market, it's PANIC. I wish they'll listen to the words from D.C. that US market is on solid grounds and will continue to grow (maybe at a slower pace, but grow, never the less). It's the uninformed fund managers and fearful short term traders who are contributing to this. It's sad that they even need to hear these words; some U.S. companies with sales in Asian markets will get impacted, others won't, few who import from there (e.g. parts) will even benfit. It's very basic. Anyway, an HP employee was telling me that HP's best earning years has been when SEA has had troubles -- goes to make the point I'm making. BTW, I don't blame the big guys for wanting to protect their gains. I think they're just gauging markets fear and over reacting. Anyway, they're creating some interesting buy opportunities, mostly for themesleves, and some for small guys like me. Hang Seng -15.45%, Nikkei -4.49% Ouch! In his nightly news interview, secretary of treasury refused to comment on the possibility that if Japanese conitnue to hurt will have to pull some of their money from US to cover some of their problems. I wish he had answered it. Sorry about this long post, good night.

To: Dulane U. Ponder who wrote (37920)	10/28/1997 8:10:00 AM
From: mauser96	Read Replies (3) \| Respond to of 186894

Nobody will ever be able to be sure whether circuit breakers work or not, because there is no way to do a scientific controlled experiment. They have been useful in futures markets. They probably help when a market collapse is being driven by herd instinct panic, but I suspect more time than an hour or so would be needed. Yesterdays selloff was mainly driven by professionals protecting their 1997 record and was not the panic type. We may see true panic today as the public small investor starts to run , and more margin calls go out.We have already had a correction of 13 % or so, so it is more than halfway to qualifying as a bear market. In the long run, this collapse is healthy for the market, especially because it is coming in a period of low interest rates and a healthy profit picture. Not at all like 1993 or even 1987.