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

To: D GALL who wrote (12413)	12/27/1997 2:18:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 18056

Danny, it does not change the probability of 1000 points correction, in essence it now removes the urgency to "defend" 14,000 which makes sure that 14,000 will be breached. It will slow down the decline from 14,000 in the Nikkei because there will be no urgency from the financial institutions to liquidate, but on the other hand it will make the decline lenthier and thend point might even be lower. Why that? Since this artificial band aid does not address the real question of stimulating the local market with massive injection of funds into consumer's pocket. Instaed of plucking 13 trillion yens as preferred stock in the financial institusions, they should have kept half of it and pluck the rest as tax cut to the consumer. They are replacing amputation of the sick limb with slow gangrenous death. Zeev Zeev