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

To: studdog who wrote (13091)	1/14/1998 2:51:00 PM
From: Jyoti sharma	Respond to of 18056

Karl, Market is fairly valued if you think earnings will come as expected. I feel the earnings of the large multinationals will be a lot lower due to Asia problems. Interest rate will also go lower to avoid a recession. In addition with inflation close to zero and dollar very strong Fed will have no problems reducing rates atleast by half a percent later in the year. Earnings expectation will come down within a few weeks and stock market will easily go down 20-25%. However right now I think a lot of people are very cautious and bearish. Stock market may make a nominal new high on the dow before tanking in Feb. Most of my friends are in cash, to me it's a contrary indicator. The big catalyst for the down turn may be Microsoft loosing its case and Windows 98 is postponed. BTW I am usually wrong on market timing, this time I may get it right. Jyoti