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To: John Hunt who wrote (15805)	5/26/1998 10:04:00 AM
From: yard_man	Read Replies (1) \| Respond to of 18056

Whose ready to step in there and pick up the values? <G>

To: John Hunt who wrote (15805)	5/26/1998 1:30:00 PM
From: Zeev Hed	Respond to of 18056

John, I think that author should be paying some "royalties" to SI for the copyrighted use of "Maginot Line" <VBG> in the context of financial markets. We introduced the term first (G). On the Asia thread, we even had a short argument if the term is indeed descriptive to these situations. Zeev

To: John Hunt who wrote (15805)	5/26/1998 8:49:00 PM
From: nora b.	Respond to of 18056

Here's something to keep an eye on. Dollar/Yen relationship and possible BOJ Dollar selling intervention. hlb.hongleong.com.my " FOREX COMMENTARY AS AT MAY 26, 1998 The Dollar gained against the Yen during European trading yesterday to its highest level in nearly seven years amid speculation that the US may be forced to tolerate the Yen weakness. Dealers said if BOJ do not intervene in the market further Dollar gains towards 138 and above cannot be ruled out. Yen losses were triggered after reports stating that US Treasury Secretary Robert Rubin was willing to let the Yen weaken to 140 or even 150 against the Dollar if that was the only way to keep Japan's economy from collapsing. The Dollar rose as high as 137.15 Yen its strongest since August 1991 on the news. With trading volumes depressed by holiday in London and New York the Dollar was at 136.90 Yen at the close of European trading yesterday. Dealers expected the BOJ to enter the market if the Dollar threatened to top 140 Yen as intervention fears intensified in the wake of Japanese officials remark. The risk that Yen weakness could trigger a new round of weakness in Asian currencies was cited as the reason why BOJ could intervene. Meanwhile the Dollar also gain against the Mark in line with that of the Yen. The Dollar/Mark ended at 1.7660 against 1.7595 at the open. In early Asian trading today the Dollar hovered above 137 Yen but concerns about possible BOJ Dollar selling intervention is likely to cap the Dollar near 138 Yen. Market is expected to watch Tokyo stocks and Japanese government bonds for clues to Dollar/Yen direction. "

To: John Hunt who wrote (15805)	5/28/1998 4:36:00 PM
From: John Hunt	Read Replies (2) \| Respond to of 18056

The dawn of the US bear market euromoney.com << I expect the US equity market to fall 30% to 40% this year. The catalyst for the turn in sentiment will be static (or falling) corporate profits, rising inflation and higher interest rates. Mania will drive the collapse. When the dust settles, the US economy will slide into recession. Consumers will retrench to pay down debts. The dollar will fall. It will be the dawn of a two-year bear market. >>