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To: j g cordes who wrote (29277)	11/24/1997 9:23:00 AM
From: ViperChick Secret Agent 006.9	Respond to of 58727

Look at Yahoo news headlines according to this post.... Corrupt? gosh is that too mild of a word...sorry I cant use what I am thinking 'cause I will be sent to web jail To: +Ramsey Su (74 ) From: +Greg M. Sunday, Nov 23 1997 11:31PM EST Reply #84 of 92 Hi Ramsey, I too am very concerned with the Asian meltdown and I've been following it closely. Based on my own personal experience with Alaska's oil boom/bust crash in the eighties, I feel profound sympathy for the people of Asia. The good news is that eventually the problems will abate and a new dawn will arise. But the bad news is that things will get a lot worse before they get better. The most striking thing I remember from our deep three-year economic depression here is the profound state of denial among all parties at the beginning of the event. The following list of recent Yahoo headlines on Yamaichi is typical of the type of denial (followed by eventual capitulation) we have been seeing and will continue to see in regards to Asia... Nov 17: "Yamaichi says job cut report exaggerated" Nov 18: "Yamaichi Sec blames its stock fall on speculation" Nov 19: "Yamaichi Sec says asks Fuji Bank for support" Nov 20: "IBJ says Yamaichi Sec's business foundation solid" Nov 21: "Yamaichi Sec says no problem with debt repayment" Nov 22: "Yamaichi Securities set to close down" Nov 23: "Focus-Yamaichi shuts, finance world holds breath" Right now Hong Kong is vigorously defending its peg to the U.S. dollar. Real estate developers in Kuala Lumpur are refusing to lower prices and move unsold property, despite the massive glut on the market. Boeing has a huge backlog of planes on order from Asia. Capitulation on these dreams could be a long, slow, messy process. I believe this type of denial is now operating in regards to the U.S. markets. I've increased my cash level quite a bit over the past month. (Still holding WIND and QCOM, though!) I have only a small short position at this time, because I suspect our market could still rise due to seasonal factors, sheer momentum, and flight to quality. I'll be reluctant to go seriously short until I'm sure the bull is really dead. What would convince me? I'll be watching to see when our greatest market bulls (Abby Cohen, Ralph Acampora, Joe Battipaglia) start to turn cautious. All IMHO of course, Gre