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To: Ray Tarke who wrote (362)	10/7/1998 10:13:00 PM
From: mike mulhearn	Read Replies (1) \| Respond to of 939

Ray, do you think Ketchum will help get MVSI going again. Your thoughts on that firm.

To: Ray Tarke who wrote (362)	10/7/1998 10:27:00 PM
From: MeDroogies	Read Replies (1) \| Respond to of 939

I refinanced my home from a 1 yr (30 years) adjustable to a 15 year fixed. I pay 500 more than I was, but save significantly on the back end. If rates continue to fall as they are, I will refinance again, to a significantly lower 15 year rate, and save even more. This is the surest savings I can find anywhere, and it will free up cash that I can once again put into the market. Basically, it would be a savings of $100 per month for each point I save (actually, slightly more), or more than $18,000 over the life of the loan for each point. That is why I love the current environment. My one fear: are we in a liquidity trap? If so, I could refinance til the cows come home, and ownership is still a waste. But, I don't think liquidity is the problem today. It seems to me that there a still a lot of companies saddled with high interest debt that will benefit from the current environment, much as I have. That will improve bottom lines, encourage new investment, and reverse the current trend. If Greenspan acts quickly, the countries currently suffering will bounce back quickly...and any recession, at home, will be short-lived (if there is one at all). If we are in a liquidity trap, there ain't much anyone can do anyway. There aren't any cures to that, or at least none that I have ever heard of. The only "cure" is a tax cut, and heavy deficit budgeting. Even then (assuming you feel it's a cure - and I don't believe in Keynesian economics), it takes a LONG time for it to kick in. MHO is that we are in a very unusual situation right now, one UNLIKE any we have seen before. However, it won't take much to put us over the edge one way or the other. That is why Greenspan's hand is so crucial. He has played it well thus far. Hopefully, he will continue to do so.

To: Ray Tarke who wrote (362)	10/10/1998 9:04:00 AM
From: Jeffrey L. Henken	Read Replies (1) \| Respond to of 939

Stocks Bounce Back; Hopes Of Fed Rate Cut By Marjorie Olster NEW YORK (Reuters) - Stocks rose across the board Friday as the financial and technology sectors staged a snap-back rally after this week's carnage. All eyes were on the Federal Reserve amid speculation the U.S. central bank may cut interest rates again, prior to its next scheduled policy-setting meeting on Nov. 17 and perhaps even as early as this weekend. ''We are trading on rumors. We have thrown fundamentals out the window,'' said Arthur Hogan, chief market analyst at Jefferies and Co. At 1:20 p.m. EDT, the Dow Jones industrial average was up 61.28, or 0.8 percent, at 7,793.19. On Thursday, the blue-chip index ended the session down 10 points after shaking off a huge loss of nearly 275 points. In the broader market, advances led declines by a narrow 16-13 margin on active volume of 536 million shares on the New York Stock Exchange. The Nasdaq composite index rose 40.65 points, or 3 percent, to 1,459.77. The technology-laced Nasdaq fell 43 points Thursday after climbing back from a loss of 115 points. Bargain hunters snapped up technology stocks after four straight days of heavy selling wiped 12 percent off the Nasdaq. Financial stocks, which had also been under tremendous selling pressure, rebounded too. ''Everyone is waiting on (Fed Chairman Alan) Greenspan. Everyone thinks he is going to make some emergency moves to stop this carnage,'' said Charlie Payne, an analyst for Wall Street Strategies. ''You have to watch the financial stocks.'' He said financial stocks have been seesawing wildly on Fed expectations, going up on optimism for an interest rate cut only to sell off on fears the central bank may wait. Worries about more major losses at hedge funds due to turmoil in global markets were also affecting financial stocks, Jefferies' Hogan said. He said the dramatic recovery in financial stocks late Thursday, which helped the market erase a good part of its early losses, came after the hedge fund Tiger Management denied rumors it was going under. Those rumors had triggered heavy selling in financial stocks earlier in the day, Hogan said. The market has been very edgy about hedge fund losses since the near-collapse last month of Long-Term Capital Management, which needed a $3.5 billion bailout by U.S. banks and investment houses to stay afloat. Hedge funds are private investment partnerships that cater to the wealthy and often delve into speculative investments. As for the Fed rumors, Hogan said it would be uncharacteristic for the central bank to move just two weeks after it cut key short-term rates a quarter point. ''I'm surprised by how much validity people are putting into these rumors,'' he said. Elliott Platt, managing director of economic research at Donaldson, Lufkin & Jenrette, said the Fed has only changed policy once between meetings since 1994 when they adopted the practice of announcing their moves after a meeting. ''It's extraordinarily unusual. The Fed is happy with the pattern of moving in the aftermath of a meeting and making a detailed announcement,'' Platt said. Among active issues, Citigroup rose 1-5/8 to 33-5/8 and was the most active on the NYSE. Allegiance Corp. jumped nine to 32 on news it would be acquired by drug distributor Cardinal Health Inc. in a stock deal valued at $5.4 billion including assumption of debt. dailynews.yahoo.com Regards, Jeff