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To: Ramsey Su who wrote (14233)	8/28/1998 10:40:00 AM
From: DaveMG	Respond to of 152472

Ramsey, Big selling in big techs this morning. Dell, CSCO, MSFT, INTC, ALL on the downside. This is the first day in a long time that these stocks have been weaker than the overall market, obviously not good news. dave

To: Ramsey Su who wrote (14233)	8/28/1998 11:01:00 AM
From: Jon Koplik	Respond to of 152472

Ramsey - regarding this ridiculous stuff that the Hong Kong Monetary Authority is doing, and regarding marginmike's comment (which was) ramsey most of the market is aware of Hong Kong intervention. Thus when market gets whacked nobody will be surprised. It might cause a ripple, but I disagree that it will be the apocalypse! One thing which never ceases to amaze me was that when Japan suffered the bulk of its stock market and real estate value collapse (late 1989 - some point in early to mid 1990's) one would be hard pressed to look (in retrospect) at action in other countries' stock markets (or bond and foreign exchange markets, I think) and observe "Oh, well this was some of the worldwide dislocation effects of that massive collapse in Japan." Maybe the inevitable end to this "dumbness" in Hong Kong will similarly have no profound effect elsewhere. (I still think U.S. short-term interest rates should be unchanged to down for at least a while, in case anyone cares about my opinion). Jon.