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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (20661)	6/18/1998 2:06:00 PM
From: Andeveron	Respond to of 94695

>> Did that work? No. Will this, beyond the very short term that is? No. << The intervention may not even have an impact beyond the dip that we saw yesterday; the dollar is up Y1.55 today. Currency traders are already beating the yen down again. I suppose Treasuries will always try to prop up currencies when politics forces them to do so. Pity that the markets always correct themselves to equilibrium; that is, unless you're AMZN and exist on the internet.

To: Oeconomicus who wrote (20661)	6/18/1998 2:18:00 PM
From: Tom M	Respond to of 94695

R.D., these bearish intervention comments are starting to make me bullish ;-) Street was caught by surprise yesterday. Today they try to downplay its success. Sounds like a bear trap to me, for the next leg anyway. Remember when Greenspan first mentioned irrational exuberance, we had the caught-by-surprise move in the right direction - down. Day after, we started a few hundred point rally to a new top. Next leg was down over a thousand. Still no techs I'd want to go long on yet ($$$) though. Just re-entered BA long (hope it's the last time I dive out of its way ;-) regards, Tom