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

To: IQBAL LATIF who wrote (21220)	11/4/1998 7:44:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

$ strength on its present level and a strong economy-- good news for the market..in my own opinion by electing democrats and cutting house majority of Republicans US voters send a clear signal that they prefer economic growth over 'senseless' inquisition.. On a seperate note according to Bloomberg the dollar posted its biggest gain in two weeks against the yen and reached a one-month high against the deutsche mark on expectations the U.S. economy will remain strong, delaying interest-rate cuts. ''The U.S. economy is surprisingly resilient,'' said Lukas Daalder, a senior market economist at Rabobank, who's advising buying dollars. ''Unless the figures turn sour -- and we don't think they will -- we don't expect a rate cut in November.'' The dollar rose to 116.85 yen from 115.41 in London. Earlier today, it climbed 1.4 percent to 117.04 yen, marking its biggest gain since Oct. 20. The dollar rose for a second day against the mark to 1.6671 marks, its highest level since Oct. 1, from 1.6598. The U.S. said last week that the economy grew at a faster- than-expected 3.3 percent annual rate in the third quarter, dimming expectations the Federal Reserve will cut interest rates when it next meets Nov. 17. There's ''relief that the U.S. economy hasn't imploded and (Fed Chairman Alan Greenspan) has safeguarded the economy and the bull market,'' said Paul Meggyesi, the senior currency strategist at Deutsche Bank in London. Traders and investors will get more clues on the economy today, when the Fed releases its periodic report on regional economic conditions, known as the beige book. A U.S. employment report, to be released Friday, will probably show that the U.S. added 180,000 jobs in October, up from 69,000 in September, according to economists polled by Bloomberg News. Reports showing U.S. economic strength may help delay a third cut in interest rates, maintaining the value of returns on dollar deposits. The Fed has cut the fed funds rate for overnight loans between banks twice since Sept. 29, to 5.0 percent. Japan's overnight loan rate between banks is 0.25 percent. In U.S. congressional elections, the Democrats won as many as seven seats in the House of Representatives, cutting the Republicans' majority of 22 seats by about half. That could speed the end of an impeachment investigation against President Bill Clinton, a Democrat, analysts said. ''The impressive showing of the Democrats could be interpreted as a further sign that U.S. consumers still feel confident about the economy,'' said Gerard Lyons, chief economist at DKB International. ''The election result should remove fears about impeachment and thus could give the dollar some near-term strength.'' Still, signs of economic strength don't rule out further rate cuts altogether. The expectation that rates will fall faster in the U.S. than in Germany could restrain the dollar's advance against the mark. Germany has held its benchmark securities repurchase rate at 3.30 percent since October 1997. ''We're cautious on the dollar because we feel there's a greater tendency towards further rate reduction in the U.S. than there is in Germany,'' said John Monckton, who helps manage 10 billion pounds ($16.6 billion) in assets at Legal and General Investment Management. ''We're backing the mark.'' Monckton said he sees U.S. rates falling another 50 basis points in the next six months.

To: IQBAL LATIF who wrote (21220)	11/4/1998 7:49:00 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

1810 on composite looks to me a strong resistance to crack, it has last time also taken some time to cross but one thing would do it great earnings from CSCO and DELL, I am always skeptical of resistances when major earnings coincide with major resistances I would like to think that this obstacle this time around my be taken out as CSCO blows out estimate.... Global markets are also approaching important reistances like HSI 11000 will take some time , CAC 3665 is also an important level, however FTSE and DAX have a possibility of clear run of few hundred points.. I will like to square my HK webs around these levels and also take profits from Phillipines Long distance.. I would like that around this area as Nikkei moves up and passes the 14700 ASEA consolidation phase may offer some better opportunities if one can exit and reenter around 11000 resistance of HSI, I would rather think that all these major obstacles wil be very interesting to play, some higher degree of volatililty as strong economic numbers may weaken markets from 1138 area back to 1102- so I will be loking to take chances to trade on highs and long at supports... RUT should be doing well- like SEG is now a great mover I highlighted it two weeks back and the stock lok as a mover, Immunex is another stock in smal caps..