From: Spirit Of Truth Page 
Subject: SNET: Black Crash Days Ahead? (fwd)
Date: 12 Dec 1997 00:47:56 -0500
To: Spirit Of Truth Page 


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----------------------------Original message----------------------------
Date:     Thu, 11 Dec 97 23:55:53 EST
From:     Spirit Of Truth Page 
Subject:  Black Crash Days Ahead?


                     BLACK CRASH DAYS AHEAD?

                             J. Adams
                       December 11th, 1997

                     The Spirit Of Truth Page
               http://www.ucc.uconn.edu/~jpa94001/

                     ------------------------

            "Current financial excesses made the boom
             which led to the 1929 Wall Street crash
              'look like a tea break in a nunnery'".

               The Reuter European Business Report
                   November 11, 1993, Thursday
       "Stocks Set To Crash As Mania Grips, Says Dr. Doom"

                     ------------------------

    As I have pointed out in my  last  two  posts,  the  DJIA  is
failing at the psychologically important 8000 mark-

                 http://www.timely.com/p&djia.htm

Today  this  failure  worsened  significantly and the DJIA closed
down 130 points on heavy volume.

    The stock market patterns that have  developed  suggest  that
"Black" crash days might lie ahead.  I would not be surprised  to
see 10%+ down days in stock prices as  soon  as  tomorrow  and/or
next  week.  I would also not discount the possibility of a full-
scale '87 Black Monday crash  of  20%+  occurring  in  the  near-
future.  (Of course,  any such crash days might be constrained to
smaller percentage declines by the circuit breakers in place now,
although  I  don't  know  if  there  are  daily  percentage  move
limitations.  Nevertheless,  it'd be  no  surprise  to  see  Wall
Street's  stock  exchanges shutdown in the event of massive panic
selling.)

    Asian stock  markets  are  down  substantially  in  overnight
trading,  although  the  slides are not as large as what was seen
last night.  Asian woes,  however,  are probably not as important
as the technical deterioration in the U.S. stock market.  Indeed,
it might be the U.S.  stock market that is going to start leading
a global financial panic.

    The NYSE closed just above its 50-day moving average today as
well  as  just  above the psychologically important 500 mark (the
red line in the chart  referenced  below  is  the  50-day  moving
average).  The last time the NYSE dropped below its 50-day moving
average, the October mini-crash occurred.

                 http://www.timely.com/p&nyci.htm

    On top of this,  the Nasdaq Composite index is poised to fall
below its 200-day moving average at the 1500  mark.  Furthermore,
the  index  might  soon  drop below its October lows.  This would
likely set-off panic selling on Wall Street.

                 http://www.timely.com/p&ixic.htm

    If you examine charts of both the  major  U.S.  stock  market
averages  and/or  charts  of foreign equity bourses,  you'll note
that prices could soon break below October's mini-crash lows.  If
this occurs, the odds are there will be a December BIG CRASH.

                http://www.timely.com/ndxhome.htm

    Given the global stock market breakdown that  is  developing,
watchout for negative international events such as U.S.  military
action against Iraq,  war in the  Middle  East,  Boris  Yeltsin's
death  or resignation for health reasons,  and/or a military coup
in Russia.  If  such  events  start  to  occur,  then  the  Grand
Supercycle  crash  is taking the shape I have long-feared and may
have literally foreseen:  World War III.

               http://www.ucc.uconn.edu/~jpa94001/

          http://www.ucc.uconn.edu/~jpa94001/content.htm

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      "U.S. stocks fall, bonds jump on renewed Asia worries"
            Thursday December 11, 8:42 pm Eastern Time

                         By Richard Chang

NEW YORK, Dec 11 (Reuters) - Blue-chip stocks fell for the fourth
consecutive day on Thursday as investors fled to  the  safety  of
Treasury  bonds  amid  fresh  signs that Asia's economic problems
will reduce corporate America's profits.

The dollar fell against European  currencies,  but  soared  to  a
historic  high  against the South Korean won as the world's 11th-
biggest economy suffered another day of financial misery.

Gold prices fell and oil ended little changed.

The Dow Jones industrial average tumbled 129.80  points,  or  1.6
percent,  to  7,848.99.  In the broader market,  declining issues
beat advances 2,243 to 745 on active volume of 623 million shares
on the New York Stock Exchange.

The Nasdaq composite index fell 38.07 points, or 2.4 percent,  to
1,558.54.

The  financial  market  gloom  started in South Korea,  where the
country's currency,  the won,  continued to plunge  after  losing
half of its value this year.

The  won  fell its 10 percent daily limit for the fourth day in a
row,  hitting a low of 1,720 to the dollar.  The  drop  triggered
big  losses  in  Korean  stocks on concern that the record rescue
package of $57 billion by the International Monetary Fund may not
be enough to help the country.

The selling had a domino effect,  spilling over  to  other  major
centers. Japan's Nikkei index dropped 2.6 percent and Hong Kong's
Hang Seng index plunged 5.4 percent.

In Europe,  French stocks fell 3.5 percent,  Germany's main stock
index slid 2.1 percent and  London's  FTSE  100  index  fell  1.9
percent.

U.S.  investors  also absorbed fresh news that corporate earnings
would suffer as a result of the  ongoing  financial  upheaval  in
Asia.

``Investors  have  suddenly  begun  to focus back on the earnings
issues coming out of Southeast Asia,'' said Phil  Orlando,  chief
investment officer of Value Line's Asset Management division.

The  sell-off  in  stocks,  coupled  with  a government report of
lower-than-expected  November  retail   sales,   sent   investors
flocking to the relatively safe haven of bonds.

The  30-year Treasury bond rose a full point,  or $10 on a $1,000
bond,  which lowered the yield to 6 percent from Wednesday's 6.07
percent. Bond prices and yields move in opposite directions.

Some analysts said they expected the sell-off in high-tech stocks
to continue.

``We're  now seeing software and PC companies,  which had largely
escaped the initial  bloodbath  in  October,  starting  to  break
down,''   said   Bob   Walberg,   chief   equity   strategist  at
Briefing.Com, an online market research and analysis firm.

In currency markets,  the dollar fell to 1.76 marks late  in  New
York from 1.7870 late Wednesday,  and to 1.4245 Swiss francs from
1.4470.

But it rose against the Japanese yen on concerns about a  planned
bailout package to stabilize Japan's financial system. The dollar
fetched 129.83 yen, down from its session high of 130.18 yen, but
up from 129.45 yen late Wednesday.

Elsewhere, gold for February delivery fell $2.60 to $286 an ounce
on  New  York's Commodity Exchange.  January crude oil edged up 1
cent to $18.15 a barrel at the New York Mercantile Exchange.

-----------------------------------------------------------------

                    "No confidence for Seoul"
            By DAVE CARPENTER, Associated Press Writer

South  Korea's  economic  picture  worsens  as  currency,  market
stumbles

SEOUL (Reuters) - The ravaging of South Korea's financial markets
continued  on  Thursday  as the tide turned against the country's
effort to regain foreign confidence in its economy,  traders  and
analysts said.

Currency  trading  again  came to a halt in the first few minutes
after the won plunged by its 10-percent daily limit to 1,719.8 on
the dollar. The stock market slumped nearly six percent.

On Thursday,  South Korean President Kim Young-sam apologized  to
the  public  for  the  second  time  in a month for the country's
economic crisis.

I feel bitterly responsible that  the  economy  has  reached  the
current situation, he said in a nationwide address.

But  his  remarks touched no one as frustration and cynicism were
growing toward the government's handling of the crisis.

Government policy has lost its  consistency,  said  Kim  Wan-hee,
chief trader at Dongsuh Securities.

The Finance Ministry's hasty decision to move up the stock-market
opening   schedule  to  Thursday  from  next  Monday  showed  how
desperate it was, brokers said.

Foreign investors saw it as another Korean joke, said a broker at
Daewoo Securities.  The government was telling the world that  it
was flat broke in dollars, brokers said.

It  seems  the South Korean government is really trying to do its
best but it doesn't have  much  mileage,  said  Lee  In-hyung,  a
research director at LG Economic Research Institute.

The  composite  stock  price index closed Thursday's trading down
5.62 percent, or 22.48 points, at 377.37, heading back toward the
year's low of 356.82 registered on Dec. 3.

The plunge was a slap in the face  for  the  South  Korean  stock
market  because it was opened to 50 percent foreign investment on
Friday, compared to the previous aggregate limit of 26 percent.

Buy orders were almost nil, said a broker at Jardine Fleming. Who
would buy?  If they buy South Korean stocks today,  they may lose
10 percent in currency tomorrow.

The  won's  agony  was casting a long shadow on the stock market,
traders said. The enormous risk of the Korean currency is scaring
off even the most daring investors,  said Oh Yon-suk,  a director
of Hannuri Investment & Securities.

I  am really scared,  said one trader at Dongsuh Securities.  The
mayhem will go on and on.

An executive at a local brokerage added:  It's a  massacre.  Even
the country's president is helpless.

The  South  Korean  currency has lost more than half of its value
against the dollar so far this year.

If the government lets the market stay as it is,  the dollar will
head for 2,000 on Monday, a foreign bank dealer said.  But it has
run out of ammunition.

LG economist Lee said:  The situation will become worse.  The won
must  gain  stability,  corporate default risks go down and South
Korean paper overseas do better.  But we don't see any  of  those
things happening.

South Korean credit ratings have been battered on an almost daily
basis.

Overnight,   Moody's  Investors  Service  lowered  South  Korea's
foreign debt currency ceiling and downgraded the  ratings  of  31
Korean issuers. On Thursday, Standard & Poor's cut ratings on
three South Korean financial institutions.

Traders  said South Korea was caught in a vicious circle with the
currency crisis driving away foreign investors despite the allure
of a cheap and now open stock market.

As long as the won doesn't recover,  foreign funds will not  flow
in,  said  Wang  Jang-sik,  a  broker at Shin Young Securities.

-----------------------------------------------------------------

  "Rupiah, Baht and Peso Plunge to Records on South Korean Woes"

The  Indonesian rupiah,  Thai baht and Philippine peso plunged to
new lows as investors pulled funds out of the region,  rattled by
the  depth  of  problems  in  South Korea.  The Korean won fell a
further 7 percent to 1,840 a dollar today,  from 1,709.9  at  its
Asian  close yesterday,  taking its week's decline to 33 percent.
The Philippine peso plunged 4.2 percent to 36.641 a dollar,  from
35.105  yesterday and the lowest in more than 25 years.  The baht
dived 2.7 percent to 43.95 a dollar,  from 42.75 yesterday;  it's
at  its lowest since it was loosely pegged to the dollar in 1983.
The rupiah tumbled 2.4 percent to 4,617.5  a  dollar  from  4,505
yesterday, and is at its lowest since Indonesia's capital account
was liberalized in 1971. The ringgit fell 0.96 percent to 3.794 a
dollar,  close  to  the  lowest  since the ringgit was floated in
1973.  The Singapore dollar is near a four-year low,  falling 0.6
percent to 1.643 a U.S. dollar from 1.6328 yesterday.

-----------------------------------------------------------------

                "Pentagon Suspects Iraqi Military"
           Thursday, December 11, 1997;  6:00 p.m. EST

WASHINGTON  (AP) -- Iraq is continuing to move its surface-to-air
missiles about in what could be an offensive  manner,  while  its
ground troops remain widely dispersed,  a Pentagon spokesman said
Thursday.

``The fact that they are continuing to move  around  their  SAMs,
including  SA-2s,  which are the only missiles they have that can
reach the altitude of a U-2, is worrisome because ... there is an
offensive side to this type  of  movement,''  Pentagon  spokesman
Kenneth Bacon told reporters.

The  United  States  has  continued  regular flights of the high-
altitude reconnaissance U-2 aircraft  on  behalf  of  the  United
Nations weapons inspections in recent weeks,  Bacon said,  adding
that they have not been challenged.

While the Iraqis had threatened to shoot down the aircraft,  such
rhetoric has cooled recently, the spokesman said.

Bacon noted that the Iraqis,  throughout the crisis over the U.N.
inspections for weapons of mass  destruction,  have  moved  their
missiles  around.  That could be seen both as a defensive move --
to keep the missiles hidden -- or an offensive  maneuver  because
it   makes   it   difficult  for  them  to  be  pinpointed  in  a
counterattack, he said.

Bacon said the Iraqi  ground  troops,  and  primarily  the  elite
Republican Guard, remain ``widely dispersed'' from their barracks
and bases.

``That  means  that the troops themselves and their equipment are
spread out in an arrangement  that  is  defensive  primarily,  we
believe,'' he said. ``But that does tend to reduce their military
effectiveness  because  they can't operate together as units when
they and their equipment are spread out.''

The spokesman said the United States is keeping a  ``very  robust
military force'' consisting of 29,000 soldiers,  sailors,  airmen
and Marines in the Persian Gulf region.

In addition,  about 300 military  aircraft  are  in  the  region,
including more than 200 combat aircraft, and a wide range of Navy
ships  accompanied  by two aircraft carriers,  the USS Nimitz and
USS George Washington.

-----------------------------------------------------------------

          "Ailing Yeltsin cancels weekly radio address"

MOSCOW (December 11,  1997 10:07 a.m.  EST)  --  President  Boris
Yeltsin,  battling  a  viral  infection,  was  experiencing  some
discomfort at a government sanitarium outside Moscow Thursday and
called off his weekly radio address on doctors' advice, officials
said. "The president is feeling uncomfortable," the Kremlin said.

The 66-year-old Yeltsin was hospitalized Wednesday with an  acute
viral  respiratory  infection  and  was told to rest for 10 to 12
days.

State television showed a tired-looking Yeltsin meeting  Thursday
with  his  chief of staff,  Valentin Yumashev.  The brief footage
showed the president in a cardigan  sweater,  signing  documents,
walking across the room normally and conversing with Yumashev.

Yeltsin  also  talked  by  phone  with  Bulgarian President Petar
Stoyanov and signed a long-awaited decree aimed at shoring up the
government's shaky finances by cutting  spending  and  tightening
fiscal  controls,  the  Kremlin  said,  emphasizing the president
remained in charge.

The president's heart surgeon,  who in the past has  been  candid
about  the state of Yeltsin's health,  insisted Thursday that the
president is not suffering from heart problems  and  his  overall
health is good.

Yeltsin's cold has "absolutely no connection" to the heart bypass
he had 13 months ago, Dr.  Renat Akchurin was quoted as saying by
the Interfax news agency.

"I'm not a bit worried or concerned about the overall  health  of
the leader of state. On the contrary, the operation increased the
quality of his life and improved his work capability," he said.

He   said  Yeltsin  had  been  prescribed  anti-viral  and  anti-
inflammatory  medicines.  The  Associated  Press  was  unable  to
directly  contact  Akchurin,  who  accompanied  Yeltsin on recent
trips to Sweden and China.

Presidential aides, trying to play down concern about his health,
had said Wednesday that he would make his  weekly  radio  address
Friday.  But  the  Kremlin  said  Thursday  that  doctors advised
Yeltsin to skip the broadcast,  and the  press  service  said  he
decided to heed their caution.

Despite  past  heart  trouble  --  which  the government tried to
conceal by saying the president had a cold  --  officials  insist
that Yeltsin's two-week hospitalization is just a precaution.

While  the  Russian  stock  market,  down  4.7 percent Wednesday,
dipped another 6.4 percent Thursday,  ordinary Russians seemed to
take  Yeltsin's latest setback in stride.  There was no immediate
outcry among opposition figures for Yeltsin to resign for  health
reasons,  as  in  the  past.   Most  newspapers  gave  front-page
coverage to the hospitalization but not with large headlines.

"This ailment following Yeltsin heart  surgery  will  cause  many
people   concern,"  the  daily  newspaper  Moskovsky  Komsomolets
observed.

The Russian leader has had a hectic schedule this fall  of  trips
abroad  and  frequent  weekend  meetings  with foreign leaders in
Moscow.

Yeltsin remains in control of the government while  he  rests  at
the exclusive Barvikha government clinic outside Moscow, and will
do   paperwork  and  stay  in  touch  with  senior  officials  by
telephone, officials said.

Yeltsin's latest illness was not likely  to  have  any  immediate
political  impact,  though  it  comes at an inconvenient time.  A
government attempt to get the economy going is in trouble because
of lack of funds and  a  scandal  over  book  advances  that  has
discredited top reformers.

In  the past,  presidential aides have used terms such as "a cold
or flu" to mask Yeltsin's serious health problems.  Near the  end
of  the  exhausting  1996  presidential  election campaign,  when
Yeltsin suddenly stopped  making  public  appearances,  officials
said  he  had  a  bad  cold.  It  was later confirmed that he had
suffered a heart attack.

The Kremlin's zeal to conceal Yeltsin's heart trouble has led  to
skepticism over its characterization of his health. Yeltsin has a
long  history  of  heart  disease  and underwent quintuple bypass
surgery in November 1996.

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Date: Wed, 29 Oct 1997 08:24:38 -0600 (CST)
From: Mary 
Subject: stock market (fwd)

Submitted this to Vanguard's list back in August....and am
forwarding it to you as it seems relevant to the events of the
past week.  Whether this applies I do not know, but I know the
source and he has a very proven track record in the office of the
prophet.  I will quote him:

(BY HAROLD EATMON)

  "...In my last article I mentioned a vision of the Stock
  Market's 'Big Board' having serious upcoming problems.  I saw
  the Stock Market soar and then crash.  After the crash, many
  big business corporations and private parties bought up stocks
  because of the low cost to buy in.  Then I saw the market begin
  to climb again in a short period of time.  Then it crashed
  again bringing tremendous loss, ruin, and devastation to all
  who bought in the first time.  This is what I have labeled "Two
  Black Mondays."  The time period between the Two Black Mondays
  was very close together.  I could not tell exactly how close.
  It could be a couple of days to a couple of months.  There are
  some tell-tale signs indicating the season and the setting.
  *I saw the season to be when 'the leaves fall to the ground'
  then the first crash would occur.*  I also saw the Yen and Mark
  fall dramatically just before this sudden and inexplicable
  crash.  Like Joseph in Genesis, I believe America will have fat
  years of financial blessing.  I also believe there are coming
  lean years of financial difficulty for America.  I do not
  believe God is showing this so people can beat the game
  financially.  I rather believe He is saying keep your eyes on
  eternal things.  Store up treasures in Heaven."

  "The Lord is speaking to us through many types of revelatory
  and tangible waves.  There are financial waves, natural
  disaster waves, health waves, political waves, and last, but
  certainly not least, are spiritual awakening waves.  Whether it
  is natural waves of revelation or supernatural waves of
  prophecy, we are called to have ears to hear what the Spirit is
  saying.  God is saying these are days for repentance, healing,
  salvation, and blessing.  Our God is speaking.  The question
  is, are we truly watching, waiting, and listening?"

--from The Trumpeter Journal
  Summer 1997
---

NOTE:  I am only quoting, so for more information or to
correspond, please contact Harold Eatmon directly at:

  Harold Eatmon Ministries, Int'l
  PO Box 48402
  Minneapolis, MN  55448-0402

--

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