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To: Herring who wrote (53801)	9/25/1998 12:27:00 AM
From: Robert H.	Respond to of 58727

Guess the tooth fairy will ask for a refund in the morning.

To: Herring who wrote (53801)	9/25/1998 12:31:00 AM
From: Tundra	Respond to of 58727

Yes, This early retrenchment was fairly predictable, in my view. The thing to watch for is whether the Japanese pension funds will dive in later to reduce the decline. This has happened several times in the last month near the end of a big decline. I don't know enough about the size of the fund's assets available continue to do this. It would be an interesting number to find out. Finally, fwiw, despite the large decrease in the Nikkie over the last few years, I believe it more likey than not that further significant losses are certainly a risk. A surpise EFFECTIVE bankbailout agreement between the political could inititate a strong move to the upside. But, so far, the parties see too be somewhat apart on signicant issues; and not moving with the speed many had hoped. Perhaps some of the politians may turn on a dime on this; if so it would be a pleasant. Regards, Tundra