Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: dougjn who wrote (15903)	10/2/1998 10:57:00 AM
From: Ramsey Su	Read Replies (2) \| Respond to of 152472

OT - Policy change announcement. It is now apparent that the street sells off in advance of Su Vacation, upon announcement. To protect the integrity of the indicator, vacation schedules will no longer be released in advance. It will be published in my upcoming newsletter only. Please send $19.95 to Su Vacation c/o ScrewU, CA 92000. Ramsey

To: dougjn who wrote (15903)	10/2/1998 11:04:00 AM
From: marginmike	Read Replies (3) \| Respond to of 152472

Doug I have no problem with your fundimental analysis. I was saying 6 months ago that Japan was a disaster and markets would tumble(Not this much). I was lambasted on the Yahoo thread and was called an idiot. I could have posted an I told you so. What would be the point? I could have just as easily been wrong. I think that this market is retesting its 7400 low. I think that the world is over reacting in the markets to what is actually happening. LTCM is a UNIQUE hedge fund. I know people on the inside, and I know people who have worked for Jon M. I feel that the banks have all disclosed their risk, and LTCM was a unique situation. I think that the USA will go to whatever lengths nessesary to support Brazil and Mexico. I think China and hong kong have bottomed and Korea is getting a tiny bit better. I think that steps will be undertaken to re-organize world order(bretton-woods). I really think there is anything worse that could happen, that isnt priced into the market(Recession) There are better odds that the USA doesnt go into a resession then that it does(accourding to the experts. The mexicans just said they are growing at almost 5% this year. The world bank has stated Korea has stabilized and begun recovery. The Europeans will create EMF this year creating european growth. I just dont think the world is as bad as people are making it out to be. I also agree that a great buying opp will occur in the next two weeks(earnings warnings). If all goes well in November we re start the recovery. A slight recession or modest growth does not justify CMB selling at 8 times earnings, or Travelers and Merril Lynch selling at ridiculous prices. When the recovery comes these investement banks will have access to brand new markets in Asia in a way they never had before! Im just Bullish god damit and I wont be the sucker selling my stock to make someone else rich. AT 7200-7400 im loading the ship with great stocks I have wanted to buy for 3 years(LU,CMB,CNC,SUNW). I have been 50% cash for the last month and I am now calling for a 75% allocation in equities when the dow returns to the low 7000'S.

To: dougjn who wrote (15903)	10/2/1998 11:14:00 AM
From: DaveMG	Read Replies (1) \| Respond to of 152472

From Financial Times Fresh blows to Japanese economy By Our Summaries Staff The battered Japanese economy was hit by a barrage of fresh blows on Friday as the unemployment rate climbed to a record high and share prices in Tokyo fell to a 12-year low amid a raft of corporate profit warnings. The jobless rate rose to a record 4.34 per cent in August, up from 4.12 per cent in July, the government said on Friday, as the number of out-of-work Japanese grew to 2.97m. It is the country's highest unemployment level since figures began in 1953 but the situation is unlikely to improve in the near term. With the economic gloom deepening, a government official warned that the employment situation was expected to get worse before it gets better. Concern over the unemployment figures quickly spilled over into the Tokyo stock market, where the Nikkei 225 average briefly fell below the 13,000-points level for the first time since January 1986. Though the index rallied in late trade to close up a modest 0.20 per cent at 13,223.69, analysts warned the respite in the market's relentless downward spiral was likely to be brief. Those fears that the bull run would resume on Monday appeared to be compounded by a series of corporate profit warnings, issued after the market closed. Pioneer Electronic said it now expected to report a ¥2.80bn ($20.7m) loss in the six months to September 30, rather than a ¥1.80bn profit as previously forecast. Mitsubishi Materials, a leading metals and ceramics manufacturer, revised its forecast for the year to March 31 to a ¥20bn loss, compared with its earlier estimate of a ¥10bn profit, while Sekisui Chemical, a major chemical maker and resin processor, said its latest annual forecast was for a ¥5bn loss rather than a ¥10bn profit. The results warnings confirmed the findings of the Bank of Japan's quarterly tankan survey, released on Thursday, which showed optimism among the major manufacturing companies had fallen more than expected, while sentiment among small businesses was at its lowest ever level. The cumulative bad economic news has been increasing pressure on the country's politicians to agree measures to confront the crisis. On Friday, that pressure finally reaped dividends, with the Lower House of parliament passing a set of bills aimed at stabilising the financial sector. The new legislation, which has been delayed for weeks amid a political in-fighting, clears the way for failed banks to be wound up and those that fail - or request it - to be temporarily nationalised. However, the bill failed to resolve the issue of how to handle weak banks before they fail, with the ruling Liberal Democratic party unable to win opposition support for injecting public funds into troubled banks. Kiichi Miyazawa, the finance minister, had said earlier on Friday that he would tell a meeting of the Group of Seven this weekend that Tokyo wanted those measures enacted before the end of the current parliament session on October 7. However lawmakers said that the session would have to be extended for a week or more if a compromise was to be reached. Meanwhile, Mr Miyazawa also said he backed a proposal to restrict speculative short selling of shares. He said the move was necessary because of rampant rumour mongering that accompanied short-selling. "This kind of abnormal situation in the markets is not appropriate," he said. Changes in the rules governing short selling were first proposed in January but the government has stepped up its concern over speculative attacks in recent weeks, accusing traders of taking advantage of general market nervousness by spreading rumours about companies and profiting when the share price falls. Analysts at the Daiwa Institute of Research said any changes to the rules would probably prevent short sellers from offering borrowed shares at below market levels, thereby preventing them from dragging the market lower. But other market analysts doubted that efficient and enforceable legislation could be devised. "You need to know clearly the details to make sure there are no loopholes," a strategist at a European securities company said. "If there are loopholes, hedge funds will take advantage of them."