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Gold/Mining/Energy : A Deadcat Bounce -- Ignore unavailable to you. Want to Upgrade?

To: Tommy D who wrote (86)	1/13/1998 11:18:00 PM
From: Ed Pakstas	Read Replies (1) \| Respond to of 97

Casey and all,,,check this out... Tuesday January 13, 10:41 pm Eastern Time Asian bear market in final stages - Morgan Stanley HONG KONG, Jan 14 (Reuters) - Morgan Stanley Dean Witter global stock strategist Barton Biggs said the bear market in Asian stocks and currencies may be in its final stages although the economic phase of recession is only beginning. The focus of the global bear market could now shift to the United States and Europe, he told a Morgan Stanley meeting in New York on Monday. ''Many (Asian) markets are now down 90 percent or more since the crisis began. This indicates to me that the bear market in Asia is in its final stages -- since historically, market breaks usually don't run more than 90 percent, even in the biggest bubble markets,'' Biggs said. He said ''some great buys'' would surface in Asia this week or next, although it was too early to buy aggressively. ''We are probably still in the eye of the storm at this point,'' he said. ''In Asia, I believe that the stock-market/currency part of the bear market is about over, but the economic phase of recession has only just begun. Corporate failures from the region could have secondary, tertiary, and fourth-factor effects on financial institutions and the world economy.'' Copyright c 1998 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon See our Important Disclaimers and Legal Information. Questions or Comments?