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To: John Carpenter who wrote (28308)	8/25/1998 4:53:00 PM
From: upanddown	Read Replies (2) \| Respond to of 95453

John: Kind of impossible to make any sense out of the valuations the market gives the OS sector vis-a-vis Internet stocks. Sure doesn't do much to prove efficient market theories. techstocks.com The OSX change of -2.16% (with its overweighting of HAL SLB SII) doesn't begin to reflect the carnage in this sector today with at least a dozen cos. down from 6% to 33%.....all on very little news and on a day when the oil contract had a very ho-hum day closing at 13.75, up .11. Oil has been trading in a tight range for months. The only connect we have with oil prices these days is if oil doesn't go up, we go down hard. Oil price stability does not translate to OS stability. The collapse in this sector is really stunning. John

To: John Carpenter who wrote (28308)	8/25/1998 5:16:00 PM
From: Don Westermeyer	Respond to of 95453

The internet stocks (AMZN, YHOO, etc.) are a bunch of balloons waiting for a pin. The growth of the internet is quite large, but is also the most competitive medium on the planet. How hard is it to open a bookstore like AMZN? Competition will cut margins to the bone. The 'long term' investors in the 'internut' stocks will be brave until as long as the stock price keeps going up. When earnings growth for some of these companies starts to slow (and I think this will happen relatively soon) things will get ugly in those stocks very fast. I won't even bring up the 'creative' accounting used in playing 'beat the estimate' game. Even a lot of real companies like INTC are probably over-valued. I think somewhere (here?) I read a few years ago INTC was trading in the $40's with its current earnings (instead of $80's) and the earnings growth for the future then was considerably brighter.

To: John Carpenter who wrote (28308)	8/25/1998 7:59:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

One of the key demands of the anti-US moslem fundamentalists is MUCH HIGHER OIL PRICES. The ruling circles in this nation have got to know that the lower oil prices go, the bigger will be the Moslem fundamentaist backlash against the US. That is why anyone expecting these ultra depressed oil prices to last a long time just doesn't get it. If oil prices do not bounce back soon, the stability of key US allies in the region (or puppets depending on your viewpoint) becomes very doubtful. RADICAL MUSLIM "DEMANDS" HAVE FOUNDATION AND HISTORY MER - Washington - 8/25: When the anti-American Iranian Revolution took place 19 years ago it didn't happen in a vacuum. The Iranian people had tried to throw out the Shah as early as the 1950s; and there are still retired CIA agents in Washington who mesmerize the cocktail circuit with their exploits of how they kept the Shah on the Peacock Throne and literally torturing Iranian society for decades. Not that long ago Iranian Ambassador in Washington, Ardeshir Zahedi, played the role the Saudi Ambassador, Bandar bin Sultan, does today. And what is taking place today in 1998 is not happening in a vacuum either. Going back to the Reagan era the U.S. has greatly stepped up its CIA exploits throughout the Arab and Muslim worlds, established a major "strategic relationship" with Israel, and substantially increased support for both Israel and Arab "client regimes" -- real democracy and true human rights be damned. Plus, of course, the dispossession and subjugation of the Palestinian people has been continually pursued -- a vital element in the overall strategy. Most recently the unofficial but nevertheless very real "Ankara Pact" has been established -- a major U.S./Israeli/Turkish military and intelligence alliance. Anyone who thinks this isn't an anti-Arab and anti-Muslim alliance (as well as anti-Iranian) is simply missing the historical moment. Earlier this month, the coalition of radical Muslim groups that has come together to challenge U.S./Israeli domination of the Middle East issued the following demands to the French media. GROUP SPELLS OUT ITS DEMANDS CAIRO (AFP - 8/10/98) -- The shadowy Islamic group which has claimed responsibility for bomb attacks on the US embassies in Nairobi and Dar es Salaam, has issued a list of demands calling for US forces to leave Saudi Arabia and for the release of detained Islamic militants. In communiques sent to Radio France International, copies of which were obtained by AFP's Cairo bureau, the Islamic Army for the Liberation of (Moslem) Holy Sites said it wanted: "1. The withdrawal of US and Western forces from Moslem countries in general and from the Arabian peninsula in particular, including civilians. "2. The lifting of the naval blockade imposed round the Arabian peninsula and the withdrawal of warships from Islamic waters. "3. The release of ulemas (religious scholars) and young Moslems detained in the United States, Israel and in Saudi Arabia, and first and foremost Sheikh Omar Abdel-Rahman (the spiritual guide of the Egyptian fundamentalist organisation Jamaa Islamiya who is jailed in the United States) and Sheikh Salmana al-Wada (a Saudi dissident). "4. A halt to the expropriation of Moslem riches, in particular the oil wealth of the Arabian peninsula and of Moslem countries. "5. An end to all forms of US support to Israel. "6. An end to the war of eradication being waged by the United States with the aid of governments in its pay, against young Moslems under the pretext of fighting terrorism. "7. An end to the campaigns of extermination conducted by the United States against certain Moslem nations in the guise of economic sanctions." The hitherto unknown group justified its "jihad" against Washington by the "occupation of the holy places in the Arabian peninsula where US forces are close to the Al-Aqasa mosque." The group said it had taken inspiration from "fatwas from contemporary Moslem theologians including Sheikh Omar Abdel-Rahman...and statements by Sheikh Ossama bin Laden", a Saudi-born millionaire who now lives in exile in Afghanistan. Bin Laden, who is a self-avowed enemy of the United States, has been named as a likely suspect behind Friday's bomb attacks which have left at least 174 dead and more than 4,000 injured. The communiques said the Nairobi bomb attack which killed at least 164 people, was carried out by "two men from Mecca" and that the one in Dar es Salaam which left another ten dead, was the work of "a man from Egypt who belongs to the Abdallah Azzam batallion". (Abdallah Azzam was a Palestinian killed during the war in Afghanistan against Soviet troops and is venerated as the "father" of the fundamentalist "Afghan Arabs".) ________________________________________________________________ MID-EAST REALITIES is published a number of times weekly and the MERTV Program shows weekly on Cable TV.