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

To: Andeveron who wrote (20203)	9/8/1998 4:53:00 PM
From: IQBAL LATIF	Respond to of 50167

The rumors around were far too many to be sustainable, I wrote yesterday as 2000 points fall rumors were discounted one after the other, we had this problem of ASEA and HSI that was one key to take out the peg- once the peg was saved the hedge ran for the cover, the credit in my opinion goes to HK and co-ordinated global efforts to knock out speculators big time, if you think that $ came to 131 out of blue than I would think you need to have a look at some of our earlier posts we have been discussing Rubin prowess and great actitvity as broker to punish the Yen speculators at this trough-- $ weakness gave that push to ASEA which they all were worried about, China is no more undere threat of devaluation, their might have been nothing wrong it may be a case of mistaken identity- slight inflation mistaken for deflation. The other problem was that after suffering heavy losses the hedge funds were planning to descend on Latin America-- Lock stock and barrel the $ weakness coincided with their ill fated adventure they would now need to cover their shorts- I have been hearing rumors today that lot of major hedge funds were caught short today some have been able to cut other untended necks remain to be dismemebered with sharp edge of pits... so a lot have changed BOb Pisani must be out of sync as not being able to find what has been change, strange.. P.S. A parting joke ----I also have heard that SI was a favorite spot for hedge funds to judge specilists interest and as specialists interests is not a contrary opinion they went with the advice of some of the shorts here..

To: Andeveron who wrote (20203)	9/8/1998 5:08:00 PM
From: IQBAL LATIF	Respond to of 50167

Nikkei I would like to take out this stranglehold at 15200 level to make a concerted effort to knock out 15700 resistance- HSI has to consolidate its newly acquired gains, a sell off will indicate hedge fund activity to sell at highs and cover at lows. Europe will take a positive cue from US- I would think we will see some good rallies in Europe- All said and done 1724 on composite is the next target, until such time a break of 1002 will take us to 970 area very quick..