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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: DavidD who wrote (23627)	8/26/1998 9:37:00 PM
From: E_K_S	Read Replies (2) \| Respond to of 42771

(Off-topic) - Consider the source.... Investors face $33 bln Russian bond losses--FT 7.32 p.m. ET (2332 GMT) August 26, 1998 (http://www.foxmarketwire.com/wires/0826/f_rt_0826_43.sml) "...It said the losers included George Soros's investment fund, which admitted it had lost up to $2 billion as a result of the Russian economic crisis. <snip> Stanley Druckenmiller, chief investment strategist at Soros Fund Management, was quoted as saying that the $2 billion loss was the largest ever suffered by Soros' Quantum group..." ===================================================================== I do not trust those hedge fund managers...For all we know Mr. Druckenmiller was talking up the market so they could sell into any rally. ===================================================================== Paul & Dwight (have you heard any rumors regarding recent Treasury activity?): There has been some rumors that the Treasury was supporting the market last Friday and Monday by buying up S&P futures. This is done by Treasury buying S&P futures with both hands while the market is under extreme selling pressure. This action essentially turns the direction of the futures from down to up, and this in turn causes similar action in the underlying stocks. According to my source "...It is common for governments to intervene (interfere) in markets for various reasons, and it should not be viewed as nefarious for the Treasury to try to keep the stock market from tanking. In the long run, I don't think there is anything they can do to stop the inevitable swing from the current extremes of overvalue to historical extremes of undervalue -- but, for now, maybe they have stopped the rush for the exits..." ===================================================================== I do not anticipate any market crash but if this type of intervention by the Treasury is true, it is only a matter of time for the "markets" to adjust to lower valuation levels. More food for thought.... EKS