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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (882)	1/15/1998 3:32:00 AM
From: B Tate	Read Replies (2) \| Respond to of 9980

Hi Stitch It just keeps getting better/worse and better/worse.(depending on where your playing the market from) I just posted this on the WDC thread and thought you might be interested in light of our recent conversations. Combined with the "reductions" in Penang and Ipo this is major numbers of folks out of work. You can bet that a good number of the 30,000 Thais will be affected too. To All: Article excerpts from Thursday's New Straits Times Business. SEAGATE EXPECTED TO LAYOFF STAFF IN SINGAPORE; US electronics giant Seagate Technology International, the second largest private sector employer here, is widely expected to announce a major retrenchment soon, a report said yesterday. ....to be across the board "from management level downwards" , a source was reported.... Other sources said some staff had been warned by managers to be prepared for lay-offs while other staff were expecting to be notified by tomorrow.... Seagate, the largest employer here after Singapore Airlines Ltd. with an 18,000 strong staff.... Rumors of a 20% cut of Seagate staff here have been circulating for a week... The expected lay-offs in Seagate are but the "tip of the iceberg" for Singapore's electronics industry, which is suffering from excess capacity, falling prices, lacklustre end-user demand, and the region's currency problem.... This is the first company specific data I have seen published, relative to the current "crisis" in Asia. Regards bt

To: Stitch who wrote (882)	1/15/1998 9:12:00 AM
From: Zeev Hed	Respond to of 9980

Stitch: My turnips are on record expecting a declining market from about here (maybe a week later) to the Ides of March, then a spring rally followed by a retest of late winter's low. That minibear, according to my turnips, started early October and will have three legs, the first one, we already had and it terminated with year end rally and the Januar effect (which I believe will terminate just around here), the second leg should bring us deep into the 6000 and third leg (starting sometime in May?) will end with a retest of the Feb-March lows around 6200. After that, my turnips are seeing quite a strong market. That is what I meant by retrenchment. Zeev