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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (44725)	1/27/1999 4:32:00 PM
From: Cynic 2005	Respond to of 132070

Wednesday, January 27, 1999 <<At the opening of currency trading the outflow figures sent the real as low as 1.9250 to the dollar. It closed trading at 1.900, or 4.2% weaker than Tuesday's close at 1.8200. In response to the mounting currency outflows, Brazil's central bank raised its interbank rate to 34% after holding it steady for five consecutive days at 32.5%, and said the rate would rise further to 35.5% on Thursday. The increase makes it more costly for speculators to buy dollars and also gives investors here a better return on their money. "This likely indicates the central bank's intention to continue raising the rate each day," a Sao Paulo trader observed. "The logical move, in theory, is to bump up rates to keep capital from leaving," he added. "But these increases may not have that effect because the overall scenario is so negative." The government again said it won't step in to prop up the real. So far in January, more than $8 billion has left Brazil's currency markets, leaving hard currency reserves at about $36 billion, including $9 billion in loans led by the International Monetary Fund. In the two weeks since the central bank removed all restrictions on dollar trading, the real has lost about 36% of its value.>>

To: Mama Bear who wrote (44725)	1/27/1999 5:46:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 132070

Barb, just remember what's happened to Dell when last quarter earning came out. I expect the same will happen this time. Of course, there is a possibility it will run to as high as $100 although I doubt it. Methink $95 tops, I might be wrong. But even if it goes there it won't stay there. Dell will be a trading stock in a certain range for a while. Long or short, you can make money if you are quick. Another thing to remember is that the average P/E ratio for Dell is 39 something in 1998, the highest in its history. And this year their growth rate will certainly be slower than the last. So how can it remain in a P/E of >90 for long?