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

To: GTC Trader who wrote (11633)	12/15/1997 10:09:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Happy, I believe that Friday the Dow did get into the high 7700, nevertheless, I expected today to be weaker and only the NAZ was really weak and it recovered later. The fact that the LPD is finally doing what it was supposed to do a long time ago, provide some tax cuts, inicates to me that the pieces are being put in place to heal the Asian economies, and the US will not have to shoulder alone the solution of the rim's problems. I have read the news only lightly and had not had the time to evaluate the impact of the actual tax cuts's size, but I think that after some hiccup the markets in the east will stabilize. Do we still go down a little tomorow or start up at once, I know not, but it sure looks as if the markets are ready to celebrate new year from here on. Shed your bearishness for few weeks genlemen. Anyone can give us a clue as to how much impact will the tax cut have on increase consumption in Japan? It seeams to me that an 7 or 8 billion injection into the Japanese economy is kind of small potatoess, and the LPD is sticking to it's stinginess in general. The more I look at it the more it looks like "lip service" or cosmetic adjustment to the economy. The Japanese markets may, after a short rally, rrcognize it for what it is, peanuts. This fact forces me to saty with my long term scenario of a rally till about mid January and then a decline. Enjoy the rally as long as you can. Zeev