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

To: Mark Nelson who wrote (8706)	11/20/1997 2:40:00 PM
From: Zeev Hed	Respond to of 18056

I said that I expected the yen to strengthen temporarily (in the event of massive bond sales) but not to breach the very strong resistance at 114-115/yen/dollars. I think that this not going to happen soon, probably not until late December or January and not in a flood manner (and that is why my scenario calls for the major decline to occur in late Jan early February and not now. As for my turnips they have turned undecisve watching if INTc can break 82 or not. I think that even a strengthening here of INTC (and other semi's) will not change the picture over next few months, the fate of the semi (and as a result a big chunk of the high techs) is sealed. If the rims take decissive action the pains may be over ealy next years, if they muddle longer it will be deeper pains. Zeev