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<DIV><FONT size=2></FONT><FONT color=#000000 size=2>DENVER, CO, USA - GALACTIC
DAILY FX UPDATE - 10/21/98</FONT></DIV>
<DIV><FONT size=2></FONT>
<HR>
</DIV>
<DIV><FONT size=2>SUMMARY<BR>The dollar is holding to its recent ranges versus
the yen, while the market<BR>looks for hints of further hedge fund
de-leveraging. Against the German<BR>mark, the greenback has managed
modest gains on softer than expected German<BR>economic data and ongoing
speculation that the German central bank may opt<BR>to lower key interest rates
in the near term. The Dow Jones is slightly<BR>lower to start morning
trading, while US Treasuries consolidate.<BR><BR>EUROPE<BR>September German IFO,
a survey of business sentiment, slumped to 94 from<BR>August's 97.1 reading,
marking the steepest monthly fall since September<BR>1992. This underlines
the sensitivity of sentiment to the financial market<BR>turbulence. The
report prompted further overnight dollar upticks against<BR>the D-mark in
otherwise quiet dealings.<BR><BR>The UK released its October BoE Monetary Policy
Committee minutes, which<BR>revealed at 7-2 vote in favor of a 25 bp rate
cut. The two dissenting votes<BR>were from members Julius and Buiter, who
argued for a larger 50 bp easing.<BR><BR>ASIA<BR>The Nikkei posted gains of 3%
overnight, closing back above the 14,000, on<BR>the heels of talk that IBJ will
voluntarily apply for public funds. If this<BR>happens, other financially
weak Japanese banks may follow suit. After<BR>trading hours, MOF head
Miyazawa stated that it was up to the banks to<BR>decide whether or not to seek
public funds, adding that any attempts would<BR>be well received.<BR><BR>NORTH
AMERICA<BR>In the U.S., The Washington Post reported today that the House
Judiciary<BR>Committee has decided to start hearings on President Clinton's
impeachment<BR>after the elections, probably starting November 16th. The
ground rules for<BR>the probe are still being worked out.<BR></FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2>Respectfully,</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Richard Chehovin</FONT></DIV>
<DIV><FONT color=#000000 size=2>President Chief Currency
Trader</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Wed Oct 21 12:00:48 1998
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Date: Wed, 21 Oct 1998 13:56:38 -0500 (EST)
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From: UG <ug@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: MKT/GEN: NASDAQ question/instructions PLEASE
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X-To: realtraders@xxxxxxxxxxxxxx, Ketayun <ketayun@xxxxxxxxxxx>
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> UG wrote:
>
> > Ketayun writes:
> >
> > > The question is, Is there a way of placing an order that does thus:-
> > >
> > > Buy at...... but not above.......
> >
> > I thought: "buy 100 XYZ at 99 stop 102 limit" would do that.
> >
Ketayun writes:
> I think if at the time you place this order the market is trading at 100,
> you will be filled at 100.
Right. How is this not what you wanted? It's at least 99, but not
above 102.
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