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

To: Mike M2 who wrote (14321)	2/19/1998 11:55:00 AM
From: Cynic 2005	Read Replies (2) \| Respond to of 18056

Is shakeout of weak-hands enough reason to rally to new heights? Or, do the fundamentals count? I donno! Nowadays, the markets around the world are focusing on much more sophisticated things than fundamentals or technicals. Rumors, for instance! -g- It was a volatile day in the Tokyo stock market, where stocks jumped out of the blocks early on rumors that tomorrow's economic stimulus plan will be larger than the disappointment most investors are expecting. Those gains were short-lived, however-Takashi Kosugi, a member of the ruling democratic party, played down the rumors in the afternoon. Stocks fell 250 points, ending right about where they started. With expectations that the stimulus plan won't be as big as needed, it appears that Morgan Stanley Dean Witter international strategist Barton Biggs is throwing in his hand. CNBC reports that the eminence grise of international investing has gone bearish on Japan. Biggs is apparently calling for the Nikkei to slip back to 15,000 and the dollar to hop to 135 yen. Watch out for the action in Japan tonight. abcnews.com -Mohan