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

To: George Mc Geary who wrote (19294)	8/14/1998 4:05:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

George _ It can be still a short covering rally before the long weekend in Hong Kong-- but I will think that this was a good expression against the rumors of impending assault on HK $ by the speculators. The futures on Globex are immaterial I try to avoid as much possible to look at them (although the curiosity overtakes sometime my discipline to stay away from noise) for simple reason that if I depend on what is happening in the market I will not have an opinion like unfortunately lately bears have been doing- they will have multiple opinion like it can be up or down or side way the decision is your. If one doesn't have a view on the market he will fail to notice that these '' charts dance to statements of Sorros'' on ''Russian Bankruptcy'' no one wants Russia to be bust with 15000 thermo-nuclear war heads! or Japan going down and China lacks will to improve the standard of living of their masses. I concede that this 24 hour coverage is leading to more efficient markets but it has put the emerging markets to a disadvantage--- macro-prolbems are expected to be corrected from one trading session to another-- after Jimmy Carter years of 'mamiase' it took three presenditila terms of Reagen and Bush to see the results of supply side economy, which our Dear Mr Clinton likes to take credit of. However to expect and prod Japan to do it overnight is little cute and baby like demand of my dear financial community. Patience is not what I think they teach in all these high powered B-Schools-- go get it approach has blurred the time frame to non-entity. As if the world has not lived without CNBC or 24 hours cover of news- I sometime think that how unfortunate that we the people of third world have to go through our enlightenment under glaring eyes of CNN, imagine China, Russia's problems, to integrate to the global economy under 24 hour scrutiny- this in itself put a huge pressure on planners. Imagine if British Labour Government in 60's had to face global scrutiny for its request to draw down on IMF ESAF. Every nation has gone through this crisis so would China-but this is only a bonus as these countries once integrated will be only bring new consumers who want to have a slightly better standard of living than what they have now. The US corporate 'would bring little life' on their faces. All of these short term statements have rattled the markets, until any meaningful threat of inflation or real problems of strategic consequences does not appear, I keep my course consistent and fixed on either side of move, downsides and upsides-- the market may well decide to take more ransom from shorts for spooking it, if bulls decide to give them a ride like 28th Oct 1997-- so for me I am ready if my supports break, knowing well that this is a market which will go higher after consolidation.