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To: Money Mood who wrote (17242)	5/20/1998 8:01:00 AM
From: Rob L.	Respond to of 31646

Monday May 18 3:34 PM EDT G8 Computer Bug Plans Inadequate - Experts By Neil Winton, Science and Technology Correspondent LONDON (Reuters) - Group of Eight plans to swat the millennium computer bug were derided by experts today as inadequate. The plan reveals a lack of understanding of the depth of the crisis, they said. "It may sound like a cliche but too little, too late is so true in this issue. It is getting desperately late," said Robin Guenier, executive director of Taskforce 2000, a privately funded organization which publicizes millennium bug problems. Leaders of the United States, Britain, Germany, Japan, France, Italy, Canada and Russia agreed on Sunday to work with business to stop computer failures disrupting defense, telecommunications, financial and other systems as 2000 approaches. The G8 summit's final communique agreed to take unspecified urgent action and share information. Just over $16 million was committed to the World Bank Trust Fund and the Organization for Economic Cooperation and Development to help international institutions combat the bug. A conference of experts would be held in Moscow on an unspecified date. This didn't come close to the scope for action sought by some experts, who believe that when clocks tick past midnight on December 31, 1999, mayhem will break out as many computer systems crash around the world, unable to make sense of 2000 as a date. Doom-sayers expect power stations, telecommunications systems and public utilities to grind to a halt. Many factory production lines are expected to be crippled and banks closed. Air traffic control systems may fail. As government computers falter and social security and unemployment pay recipients find themselves without money, the danger of riots and civil unrest looms. Experts like Edward Yardeni, chief economist at merchant bankers Deutsche Morgan Grenfell, have called for the formation of a Year 2000 Alliance with funding of $100 billion. All the G8 leaders could generate were warm words but no effective action, experts said. "This really is the last chance to get on with it. This whole thing is much bigger and much nearer and much more dangerous than our political leaders seem to understand," Guenier said. "Exhortation, and agreements to share information, call another meeting of so-called experts -- where is the wake-up call we've been waiting for?" Andy Kyte, research director at U.S. high technology consultancy Gartner Group, was particularly concerned at the likely damage to banking systems from computer failure and the ensuing blow to confidence. "Public confidence in electronic money is likely to be shaken and the question for politicians is what they should do now to avoid loss of confidence in financial services markets," he said.

To: Money Mood who wrote (17242)	5/20/1998 10:10:00 AM
From: Mr Logic	Read Replies (1) \| Respond to of 31646

Viktor, I see what you mean about a fractal view, but if you take that to its logical conclusion (3 runs, 2 runs, 1 run) then the 1 run view with 40% retracement gives a retracement to about $9. Personally I would not set any store by this retracement view as there is no basis for it to be true. My subtler point, I guess, is that the information to predict the recent decline has been there since before the April 1 post. So at that time, if the theory holds water, it should have been obvious that the stock would move down to yesterday's levels and buying at 12.5 for anything other than trading would make no sense. It would also be obvious that the stock will trade down to about $9 which to me seems unlikley before the full year numbers are out in July/Aug. Patrick.