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To: D. Newberry who wrote (4655)	10/10/1998 11:41:00 PM
From: ed	Respond to of 21876

You probably still remember just couple days ago when the DOW droped 280 points, and the dollar droped sharply at the same day and the Japanese stock rebounded sharply , all this happed at the same day, and it meant something and should tell you something. The International hot money is moving again. The international hot money believed that FED will cut rate again aggressively, and that the US dollar will drop, and the Japanese government is serious about the bank reform this time, so the hot money sold its US stock holdings.After AG cut rate again , probably before Nov., and 0.5%, the hot money will be back again. The balance between Yen and Dollar is about 1$ to 125 Yen. We expect the US market will reverse its down trend soon , and Asian economy will be stabilized back to the growing trend again. The devaluation of the Japanese Currency will help to stabilize the currency of Asian countries, and the economy in general.The Japanese government finally realize that they can not take over the whole international market by exportingits products unlimitedly with the depressed yen, If the rest of the world can not sell their products in the oversea market, people in those countries won't have money to buy Japanese products either.