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<DIV><FONT color=#000000 size=2>Good Morning RealTraders:</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Since I am the cause of this question, I should
take responsibility to answer it.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>1. Walter Bressert is no longer affiliated with
the Bressert Marketing Group.</FONT></DIV>
<DIV><FONT color=#000000 size=2>2. CycleTrader 4.0 is still available
through BMG which is changing its name to DH Financial. </FONT><FONT size=2>Mr.
Harnach, who jointly developed </FONT><FONT color=#000000 size=2>the software
with Walter, still holds the copyright to software. He continues to develop
CycleTrader 5.0, which is due for release shortly. There will be many new
enhancements including the <U>automation of the timing bands</U>. A much needed
feature for most users.</FONT></DIV>
<DIV><FONT color=#000000 size=2>4. I have spoken to Mr. Harnach and he is well
aware of the potential formation of this group and is supportive with his
input.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>I hope this clears up the confusion on this
matter. <U>Enough said, back to trading</U>.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Richard Chehovin</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Sat Oct 17 06:06:39 1998
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Date: Sat, 17 Oct 1998 06:50:25 -0600
Reply-To: "Richard Chehovin" <GalacticFXInternational@xxxxxxxxxxxxxxxx>
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From: "Richard Chehovin" <GalacticFXInternational@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Galactic Daily FX Market Update
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<DIV><FONT color=#000000>DENVER, CO, USA - GALACTIC FX MARKET UPDATE -
10/16/98</FONT></DIV>
<DIV><FONT color=#000000>
<HR>
</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>SUMMARY<BR>The Federal Reserve Bank eased U.S. interest
rates yesterday in dramatic and<BR>unexpected fashion. The 25 basis point
easing was the first time since<BR>April, 1994 that the Fed acted outside the
realm of a formal FOMC meeting.<BR>U.S. Treasuries rallied, domestic equities
soared and the dollar dropped<BR>significantly across the board.
Presently, the DJIA is up 82 points and<BR>the bellwether 30 year Treasury Bond
is seeing some retracement from<BR>yesterday's rally; off one point, yielding
5.01%. Gold has come off,<BR>trading at
$297.90/ounce.<BR><BR>ASIA<BR>Emerging Asian stock markets soared on the news of
the Fed's 25 bp easing<BR>including the Hang Seng + 9% (!), Singapore STI
+8%, Thai SET + 6.1%,and the<BR>Philippines +7%. Japan's M2 - the
economy's most watched monetary indicator<BR>- continued to grow strongly and
was up 3.9% in September. The Bank of<BR>Japan's synthetic stimulus is
seen to be the largest contributor to the<BR>expansion, and any growth in
Japan's GDP will largely be attributed to the<BR>BOJ, rather than actual
economic growth. The IMF's Deputy Managing Director<BR>Fischer said that
the recent strengthening of the JPY removes many risks of<BR>a possible
devaluation in China. It is now widely accepted that China will<BR>not
devalue this year, with pressure easing in light of the JPY's +20%
move<BR>against the USD.<BR><BR>EUROPE<BR>Despite the Fed's move, comments by
German officials have made it very clear<BR>that there is no real intent to
follow suit and offer any kind of easing in<BR>Germany anytime soon. The
Buba's Palme said he sees no need to cut rates in<BR>Germany or the rest of
Europe. As Russia approaches its debt obligations<BR>due in November and
December, speculation is growing as to whether Russia<BR>will remain current on
these bond obligations. In light of the present<BR>political instability,
the issue seems to be the administrative inclination<BR>of Russia to pay as
opposed to their actual ability to pay.<BR><BR>AMERICAS<BR>The Bank of Canada
followed the Fed's lead and cut its key bank rate by 25<BR>bps to 5.5%, by
intervening in the money market on Friday. The Bank of<BR>Canada's
statement regarding the move said that "given the implications of<BR>these
U.S. economic and financial market developments, and in the context of<BR>low
and stable inflation in Canada, a similar one-quarter of one percentage<BR>point
decline in Canadian short-term interest rates was judged
appropriate."<BR></FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>Sincerely,</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>Richard Chehovin</FONT></DIV>
<DIV><FONT color=#000000>President Chief Currency Trader</FONT></DIV>
<DIV><FONT color=#000000>Galactic FX International,
Inc</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Sat Oct 17 06:36:21 1998
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Reply-To: "Richard Chehovin" <GalacticFXInternational@xxxxxxxxxxxxxxxx>
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<DIV><FONT color=#000000 size=2>Want a great European Monetary Union Site? Try
the following. It has significant information on individual countries, including
key facts, profiles, data and forecasts.</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2><A
href="http://www.REUTERS.COM/EMU";>WWW.REUTERS.COM/EMU</A></FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>Richard Chehovin</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Sat Oct 17 06:36:23 1998
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Subject: Re: PULLBACK
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In a message dated 98-10-16 15:41:41 EDT, you write:
<< Hi Ben:
Is your target of 1030-1035 in the SnP cash or Dec Futures?
Nice weekend,
Charles >>
good morning
I see now after fri performence that the pull back will be on dec future only
to
1040-1045
will be a buyer at that level
nice weekend
Ben
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