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To: fut_trade who wrote (2905)	11/18/1997 1:10:00 AM
From: Bill Harmond	Respond to of 27307

>>If the Nikkei moves above 20,000, the Japanese market will exit it's bearish trend. I think the 8-year Nikkei bear market ended yesterday. The Japanese government stepped in to stop a big bank falure. That's a major sign. It means they will do anything to reliquify the economy, just like our government did in 1982 to stop the run on Penn Square by guaranteeing all deposits, even above $100,000. That was a first. Do you remember the Dow at 777? That reminds me...I should look at Hitachi...

To: fut_trade who wrote (2905)	11/18/1997 1:13:00 AM
From: Don Westermeyer	Read Replies (1) \| Respond to of 27307

Pete, IMO I can't see how the Nikkei will go over 20,000. Let me get this straight. The fifth largest bank in Japan fails and the stock market goes up 11%? Doesn't something seem a little suspicious to you? IMO this is just a relief rally along with some government intervention. Japan is likely to test below 16,000 again. The Japanese government will do everything they can to keep it above 15,000 though (until they run out of money). I'm not really bearish about the US market, but Japan has big problems that need to be worked out. That means more than lip service from the government. I imagine any long term plan will probably be painfull for them short term. Asia is likely to go into a moderate recession over this whole currency thing which is not good for Japanese banks.