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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: steve susko who wrote (19273)	8/13/1998 3:29:00 AM
From: IQBAL LATIF	Read Replies (2) \| Respond to of 50167

I think we will not see the kind of 'volatility' we have been witnessing in the past-- DELL earnings will set the tone quite a bit. I would think that banks in Hong Kong has been under pressure and it is expected that a speculative run on HK $ is very much possible, this has resulted in Malaysia, Singapore and other ASEAN being down today. HSBC has been under pressure for last 45 days, Japan has remained stable I am not very sure that a city economy like Hong Kong alone will be able to make the dent today. I am also hoping that Japnese in their own interest wil defend HK $-- in solidarity with China, I will not be surprised to see Fed . HK Monetary authority, China and MOF in Tokyo working in tandem supporting the HK $ and intervening to bring Yen down, I have no news but this is my felling, the normal thing to trap the specualtors 'attack' when they are spread. My level of today are 1070 support and 1082 interim support I would like this to be probed further for any weaknesses, on OEX if we take out 536 we move higher so does SPX , also RUT needs that 416 to be taken out comprehensively SPX needs a close above 1092 and a break of 1102 to establish some credibility to upside move until these objectives are un met I will be wroking on down side opporunities.