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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Jess Beltz who wrote (5884)	6/17/1998 4:33:00 AM
From: Q.	Read Replies (1) \| Respond to of 10921

(Dow Jones)- <snip> "The recent decline in orders appears to have leveled off," said Dick Greene, principal analyst at Semiconductor Equipment and Materials International. Jay Deahna, an analyst at Morgan Stanley Dean Witter, had expected the book-to-bill to be between 0.82 and 0.86. "While a near-term bottom appears to be forming, we believe equipment stocks will likely have a hard time generating a sustained recovery as preannouncement season and the early part of the earnings seasons unfolds," he said in a research report.

To: Jess Beltz who wrote (5884)	6/17/1998 9:53:00 AM
From: Joseph Beltran	Read Replies (1) \| Respond to of 10921

Jess, It seems that the u.s. "blinked" first here. Newswires reporting that u.s. has already spent about 2 billion today buying yen...what did we get in return? the japanese passed the supplemental budget for public works expenditures but that was expected (and the u.s. officially said it was "not enough" weeks and weeks ago). Seems like the u.s. has in fact come to the rescue without getting in return the necessary reforms.....hope I'm dead wrong but it sure appears that way.. regards

To: Jess Beltz who wrote (5884)	6/19/1998 4:31:00 AM
From: FJB	Read Replies (2) \| Respond to of 10921

Off Topic, Jess, Found something that quantifies the amount of Japanese loans denominated in $s. No reference to the primary source, but it's from the WSJ: --------------------------------------------- Japan's big lending institutions and their tattered balance sheets are vulnerable to a weaker yen because the banks tend to measure their capital in yen. A huge amount of their loans outstanding is in dollars -- sometimes as much as a third of all a bank's lending -- and when the dollar strengthens, the yen value of those loans increases. Thus, banks' yen-based capital, as a proportion of their dollar loans, is edging down toward levels that the world banking community considers dangerous. Bank of Tokyo-Mitsubishi Ltd., for example, says the recent decline in the yen has eroded its capital to 8.2% of outstanding loans and other assets, down from 8.5% as of the end of the Japanese fiscal year, on March 31. The bank is only a fraction above the 8% standard that international monitoring agencies have agreed is prudent. interactive.wsj.com