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<DIV><FONT color=#000000>DENVER, CO, USA - DAILY FX UPDATE -
10/15/98</FONT></DIV>
<DIV><FONT color=#000000>
<HR>
SUMMARY<BR>The dollar opens slightly lower on North American financial
markets. The<BR>dollar seems to be pressured by the lack of interest by
German officials to<BR>ease interest rates. Stock and bond markets are
stable and should not be a<BR>major factor to dollar trade
today.<BR><BR>ASIA<BR>* The Japanese
Ministry of Finance reported on foreign bond purchases<BR>for the month of
September. Japanese investors purchased a net JPY 1.112<BR>trillion
yen ($9.25 billion) in foreign bonds. The October report will
be<BR>closely watched to see what the impact of recent FX volatility has been
on<BR>Japanese foreign investment.<BR>* The
Japanese current account climbed 43.6% over year ago levels<BR>during the month
of August. To no surprise, imports were off following the<BR>general state
of the Japanese economy.<BR>* Japanese
stocks were modestly lower. Even as the upper house is<BR>preparing to
approve bank legislation, bank stocks fell once again.<BR>Sumitomo Bank
announced plans to cut 2,000 jobs from its retail staff over<BR>the next 5
years.<BR><BR>EUROPE<BR>* Bundesbank
President Tietmeyer dashed any hope of easing German<BR>interest rates.
Tietmeyer warned against any easing in monetary policy that<BR>would be in
excess of what was required by domestic economic
fundamentals.<BR>* GBP fell to a 1 week low
against the Deutsche Mark. The fall was<BR>aided by the Bank of England's
George who said that the currency decline was<BR>positive for UK industry.
Speculation also remains for a possible easing in<BR>UK interest rates next
month.<BR><BR>AMERICAS<BR>* The Labor
Department reported that Producer Prices rose 0.3% in<BR>September. The
core rate (excluding food and energy) was up 0.4%. Both the<BR>headline
and core numbers were higher than expected by market analysts.<BR>While final
costs were up, the cost of goods in earlier stages of production<BR>were
lower. This should indicate that inflation remains under
control.<BR></FONT></DIV>
<DIV> </DIV>
<DIV>Respectfully,</DIV>
<DIV> </DIV>
<DIV>Richard Chehovin</DIV>
<DIV>President Chief Currency Trader</DIV></BODY></HTML>
</x-html>From ???@??? Thu Oct 15 09:46:04 1998
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From: Ketayun <ketayun@xxxxxxxxxxx>
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Subject: Thanks and question
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Thanks to all those who encouraged me to dump AXP, I did and freed up the
capital to start recouping and hopefully getting ahead too.
<P>Just discovered from DATEK that sell orders are prioritised to cover
longs before short sells. Is there anyway that one can find out these neat
things that would make a difference in trading strategy?
<P>Ketayun</HTML>
</x-html>From ???@??? Thu Oct 15 12:30:14 1998
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Date: Thu, 15 Oct 1998 15:20:20 -0200
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From: steven poser <swp@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: holy s--t
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Fed cuts rates, the bottom might be in after all. 45 points on spz8!
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