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

To: Terry Rose who wrote (14856)	3/15/1998 4:22:00 PM
From: Jack Clarke	Respond to of 18056

Terry, "The thing that drives me crazy is that Greenspan warned of overvaluation when the Dow was in the 6000's, and yet they intervened at 7800." We are on the same wavelength, the fear band. I fear Mr. Greenexpand has painted himself into the proverbial corner, the Asian trouble having taken away any chance of his raising interest rates. Question is how will it play out. And what will happen to the dollar if he lowers rates in response to another market slide, one too great even to tempt those dipsters. Interesting times lie ahead. I wish I were smart enough to know how to play it. I think I'll just watch. Jack

To: Terry Rose who wrote (14856)	3/15/1998 5:25:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 18056

Terry, I think that AG does not want to see a sudden and immediate adjustment, he wants to see a "chinese torture decline" to less irrationally exuberant levels, he would not mind getting us all the way to 6000 or so if he could engineer the move to happen over at least six months or so. When we drop at once 500 or a 1000 points he fears a spiral down that will cause major contractions in domestic demand and a severe recession. A severe recession throw all the budget numbers out of the window and we are back at fighting the deficit. By the way, does anyone here think that if the market gets to, let say, 9000, the Fed will stand in the pits selling 5000 contracts of the spoos? Zeev