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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Pancho Villa who wrote (8941)	5/19/1998 1:19:00 AM
From: Joey Two-Cents	Read Replies (2) \| Respond to of 18691

Good evening Pancho. Seems like HK down 2% is anticipating the coming devaluations of both theirs and China's currency. What amazes me the majority of analysts don't believe China will devalue. This is China with its top 5 banks bankrupt, its exports decreasing and growth slowing. The same China willing to intimidate Taiwan, buy influence in US elections use its own people for slave labor. Yeah I can see China showing restrain on devaluation as their economy slows and their products become less competitive and unrest spread. If anything their waiting for entrance in the WTO later this year and then watch what happens. The arrest of bank officials as drug launderers in 12 of Mexico's banks doesn't help their financial markets which have been looking very weak due to lower oil prices. Brazil down 6.49% seems like the speculators may finally break their currency. I also think once Indonesia collapses we'll have an Asian rally which will be short lived until they realize the ramifications of the loan defaults for the IMF and Japan. US ambassador "Japanese economy needs overhaul" satellite.nikkei.co.jp Japanese consumers worries increase (only 5% think things will get better) satellite.nikkei.co.jp Japanese companies post 3.3% drop in profits for FY97 satellite.nikkei.co.jp Asian market growth impossible for years insidechina.com A year down the road Asia goes from bad to worse insidechina.com Mexican stocks plunge biz.yahoo.com Australian $ hits 12 year low. biz.yahoo.com