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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (8158)	11/16/1997 7:11:00 PM
From: Rational	Read Replies (1) \| Respond to of 18056

Zeev: You may be right that yen will not appreciate much against dollar. I am trying to uncover how the tech stocks rallied on Friday. It was a quick response at the end of the day to the reports of the Jap govt action. So, there may have been some confusion because the immediate standard response to such reports is: Jap stocks will go up and Asian markets will go up, so bid up the US tech stocks. This is possible (as I had said) because neither the dollar budged down nor the interest rate went up on Friday since the massive selling of US Treas did not start. The market's extempore response on Friday suggests (IMO) that US stocks are headed south, following a rise in the spot interest rate, IMO. Sankar