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To: marginmike who wrote (14647)	9/6/1998 9:01:00 PM
From: kech	Read Replies (1) \| Respond to of 152472

MarginMike - The AMAT story is pretty bad. You know that they were selling big right into their own recommendations? Are there two sets of recommendations - one for in-house consumption and one for public consumption - or does everybody in Goldman just know to short when their analysts recommendations come out to Joe Public? I can believe the AMAT story but it seems that Abby Cohen has a little of her own credibility at stake to be making these pronouncements solely for the sake of pump n' dump. I know there is also the argument that she is doing it just because of the upcoming Goldman IPO. But she does give an argument along with her recommendation which is than corporate earnings haven't been hit that hard yet, and outside of some financials with direct loan exposure, the earnings are still on track to miss a recession. Her point is that the market, (and Ramsey), have priced assets already as if a recession is in the works. Tom

To: marginmike who wrote (14647)	9/6/1998 9:08:00 PM
From: kech	Respond to of 152472

Early trading - Tokyo up 2% Nikkei rises over two pct after opening lower Reuters, Sunday, September 06, 1998 at 20:58 TOKYO, Sept 7 (Reuters) - Tokyo's key Nikkei average rose more than two percent in early morning trade, after opening moderately lower. Traders said that the average was boosted by active buying in futures, aiming to take short-term gains, which induced futures-linked buying in the cash stock market. As of 0038 GMT, the benchmark Nikkei average was up 349.10 points or 2.49 percent at 14,392.01. The average briefly slipped as low as 13,912.69 soon after the opening. TOKYO, Sept 7 (Reuters) - Tokyo's key Nikkei average rose more than two percent in early morning trade, after opening moderately lower. Traders said that the average was boosted by active buying in futures, aiming to take short-term gains, which induced futures-linked buying in the cash stock market. As of 0038 GMT, the benchmark Nikkei average was up 349.10 points or 2.49 percent at 14,392.01. The average briefly slipped as low as 13,912.69 soon after the opening. Nikkei September futures stood 400 points higher at 14,400. "Since the New York stock market will be closed tonight, speculative buying appeared to jump in the market," said a senior broker at a Japanese securities house. Soon after the opening, the Nikkei average slipped below the psychologically significant 14,000 level on continuing worries over global financial woes, traders said. On Friday, the Dow Jones industrial average closed down 41.97 points or 0.55 percent at 7,640.25, after recovering sharply from the day's low.