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To: smolejv@gmx.net who wrote (1691)	1/6/1998 2:54:00 PM
From: Paul Corbett	Read Replies (1) \| Respond to of 11051

Probably the US currency is being bought up by Asian companies to hedge against further falls in their own. Traders of course have a demand for the currency and will hold as much $US cash as they can.As more cash comes into the US rates go down. This money will probably not flow through to equities and be held as cash. The danger for US companies is a flood of cheap Asian cars,tv sets, etc. watch out gm

To: smolejv@gmx.net who wrote (1691)	1/6/1998 5:51:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 11051

CSCO looks like a near-term top to me; next target is gap at ~53... ...buy CSCO FEB 55 PUTs CYQNK 2-3/4 ASK; or, ...sell (preferred) : CSCO JAN 56.625 CALLs CYZAY 1-15/16 BID CSCO JAN 55.000 CALLs CYQAK 3-1/8 BID CSCO JAN 53.375 CALLs CYZAX 4-1/4 BID I'm long DAINN DAI FEB 70 PUTs @ 1-15/16, hoping to play the NYSE:DAX arbitrage again (ie., I am betting that the DAX will follow the DOW down tomorrow). To predict a little: the same trend will continue (talking about US$/DEM exchange rate) until at least may 98 or any other such moment when the world opinion about the European monetary union will change colours (for better or worse). My target for the DEM's high in 1998 is 2.1 DEM / USD, or +16.7% -Steve