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To: Zardoz who wrote (24375)	12/16/1998 12:14:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 116931

Just being realistic. Not wishing it but sure it will happen.

To: Zardoz who wrote (24375)	12/16/1998 12:54:00 PM
From: Giraffe	Read Replies (2) \| Respond to of 116931

>>If a bombing run is required to get gold going higher, count me out.<< Who said anything about wanting a bomb run? Or suggested that it would do anything significant for POG? I think people were only making observations about stuff that's happening in the news that might have some impact on the gold market. Dropping a few bombs won't do anything for POG - might take it up a couple of dollars temporarily - obviously there would have to be a real good fundamental/technical reason for a new bull market.

To: Zardoz who wrote (24375)	12/16/1998 12:58:00 PM
From: Giraffe	Read Replies (1) \| Respond to of 116931

(Note: this article is ''in progress''; there will likely be an update soon.) U.S. stocks trade lower on Iraq, impeachment gloom By Ian Simpson NEW YORK, Dec 16 (Reuters) - U.S. stocks were lower at Wednesday's midday point, dragged down by tensions over Iraq and the looming possibility that President Bill Clinton may be impeached. A warning about quarterly earnings from Minnesota Mining & Manufacturing Co. (3M) (NYSE:MMM - news) -- the latest in a series of such advisories from U.S. multinational corporations -- also cast gloom over Wall Street. The Dow Jones industrial average was down 39 points, or 0.45 percent, at 8783 points. The technology-heavy Nasdaq index was off 1.47 points, or 0.07 percent, at 2011.13. ''There are a lot of cross currents that are coming in and caused a little caution in the marketplace,'' said James Volk, co-director of institutional trading at D.A. Davidson & Co. in Portland, Ore. Analysts also said so-called ''triple witching'' -- expiration of options and futures on stock indexes -- on Friday was contributing to volatility. Oil and oil field service stocks firmed as crude prices spiked higher amid the tension over Iraq. U.S. forces are standing by in the Gulf for a possible attack on Iraq in response to its defiance over U.N. weapons inspections. Among them, driller Schlumberger Ltd. (NYSE:SLB - news) was up 2-1/16 to 46-1/8 and oil major Exxon Corp (NYSE:XON - news) rose 13/16 to 74-15/16. Uncertainty about Clinton's political future compounded the worries over Iraq. The House of Representatives is to begin debate Thursday on whether to impeach him over allegations of perjury and other wrongdoing in the Monica Lewinsky case, leading to a possible trial next year in the Senate. ''With these two things out there, there's going to be a bit of volatility,'' said Ron Doran, director of institutional trading at C.L. King and Associates in Albany, N.Y. 3M's profit warning also dragged the Dow industrials lower. The diversified industrial giant said it foresaw fourth-quarter profits off 10 percent from the same period a year ago. 3M was the 10th stock in the 30-company Dow index this quarter to warn that its results would not meet forecasts. 3M's shares were off 2-12/16 to 71-1/16. Markets shrugged off U.S. economic data. Commerce Department numbers showed housing starts fell 2.7 percent in November from October. The Federal Reserve also said industrial output fell 0.3 percent last month as industries operated at their slowest rate in more than five years. (Note: this article is ''in progress''; there will likely be an update soon.)

To: Zardoz who wrote (24375)	12/16/1998 12:58:00 PM
From: long-gone	Read Replies (3) \| Respond to of 116931

What is wrong with this picture: AMAZON COM (Nasdaq:AMZN) Mkt Cap = 15.242B CATERPILLAR INC (NYSE:CAT) Mkt Cap = 15.244B

To: Zardoz who wrote (24375)	12/16/1998 5:31:00 PM
From: goldsnow	Respond to of 116931

Hutch, market always looks forward Iraq/impeachment strikes were entirely predictable and were freely discussed right here...Wait till May... Full story FOCUS-Netanyahu puts Israel on election footing 04:01 p.m Dec 16, 1998 Eastern By Danny Gur-arieh TEL AVIV, Dec 16 (Reuters) - Prime Minister Benjamin Netanyahu set the stage on Wednesday for an early election, saying he would call Israelis to the polls if parliament refused to back his suspension of a peace deal with the Palestinians. A senior government official said an election would mean halting the land-for-security accord throughout the period of campaigning, a prospect Palestinians called unjustified. With his right-wing coalition in tatters, Netanyahu said he would ask the Labour opposition and his allies to vote on Monday in favour of his decision not to proceed with the accord unless Palestinians fulfilled a string of conditions he has set. ''If there isn't the necessary majority to support these principles, I will call for early elections in order to get from the people the necessary mandate to achieve a real peace,'' Netanyahu said. Labour leader Ehud Barak swiftly announced he wanted polls moved up from their scheduled date in 2000, saying he could not work with a government that had ''surrendered to the extremists.'' Netanyahu commands only a 61-59 majority in the 120-member Knesset, where coalition hardliners have deserted him over their opposition to giving up West Bank land. Politicians across the spectrum said a rush to the ballot box, probably before next May, now appeared a near certainty. ''In moments of crisis the leadership of a nation is chosen. We reached a crisis and we need to overcome it,'' said Foreign Minister Ariel Sharon, who stood next to Netanyahu as he spoke to Likud movement activists at party headquarters. Netanyahu, elected in 1996 on a platform at odds with the land-for-peace formula Labour endorsed in its landmark 1993 Oslo interim accord with the Palestinians, has seen his coalition crumble since he signed the Wye River deal in October. Finance Minister Yaacov Neeman submitted his resignation on Wednesday, saying divisions in the 17-member cabinet were blocking passage of the 1999 budget. A senior official said Netanyahu would assume the portfolio himself. Netanyahu told the cabinet on Wednesday that he would not carry out the second of three West Bank pullbacks under the Wye accord, brokered by U.S. President Bill Clinton. The withdrawal had been scheduled for Friday. He said he would ask ministers on Sunday to endorse his demands that Palestinians meet a slew of conditions for the accord to proceed and then take them to the Knesset. ''I call not only on the members of the coalition to support them but also members of the Labour party,'' he said. Barak told Israel's Channel Two television: ''We're going to elections. What kind of unity government can there be with a government that has surrendered to the extremists, smashes the economy, smashes the society, smashes the norms of government?'' Netanyahu is due to face a no-confidence vote next Monday linked to a bill to bring forward elections. A senior government official said Netanyahu would address the chamber before that debate and then ask members to support his policies on Wye. ''If he doesn't get 61 or more votes for his position, he will then initiate early elections,'' the official said. Asked what a campaign would mean for the peace deal, the official said: ''I don't think anyone expects us to continue with implementation of the agreement during an election period.'' Both Netanyahu and Barak could face challengers in their own camps in a race for the prime minister's job. Sharon and Defence Minister Yitzhak Mordechai have both been tipped as potential candidates from Likud. Centrists Roni Milo and Dan Meridor, both ex-Likud, are preparing a challenge and Barak could face a strong rival in Labour if former army chief of staff Amnon Lipkin-Shahak, who has won high opinion poll ratings, decides to enter politics. Netanyahu adopted a campaigning tone in his speech, portraying the months ahead as of existential importance for Israel in the run-up to a May 4, 1999, deadline under the Oslo framework for a ''final status'' peace with the Palestinians. Arafat has said he reserves the right to declare an independent state next May in the absence of a final agreement, a position Netanyahu has said Arafat must publicly renounce. Netanyahu has also demanded that Arafat curb violence that has flared across the West Bank over his handling of Palestinian prisoner releases, end incitement, accept Israel's terms for freeing prisoners and round up illegal weapons. Palestinians say they have met all their Wye obligations. ''He's attempted to cover up...the fact that he doesn't have a government any more by deciding to blame us with statements that are alien to the truth,'' said chief Palestinian negotiator Saeb Erekat. Copyright 1998 Reuters Limited