Any thoughts out there? For the prospective buyer, is this a time to wait for new lows or to buy now?
What role does this stimulus package (or lack of) from the Japanese gov't that is coming out on Monday (supposedly) play?
What does the truth matter? Haven't we mothers all given our sons a taste for lies, lies which from the cradle upwards lull them, reassure them, send them to sleep: lies as soft and warm as a breast!
Georges Bernanos (1888-1948), French novelist, political writer. Madame la Comtesse, in The Diary of a Country Priest, ch. 5 (1936).
Traders said it was hard to say what sent the market lower Monday, adding that the drop may have been caused by speculative selling. Some of the selling may have been related to disappointment that the government evidently has not injected the promised 1.0 trillion yen from the postal savings and insurance system into the stock market before the March 31 end of the fiscal year, traders said.
However, after the close of equities trading on the Tokyo Stock Exchange, Kyodo News reported that the Ministry of Post and
Telecommunications said that 971.2 billion yen of the funds are being injected into the market.
This link gives Sonys financials. Check out the breakdown by geographic area. With over 50% of the revs coming from the US and Europe, Sony is benefitting strongly from the current low yen. Although the problems in Japan may cloud the picture, I still feel this company offers the best up side potential through the summer of 98 that I can find. I will continue to accumulate and expect to be rewarded. Tony
Sony Corp 11200.00 11100.00 100.00 up- 0.90%
The Government in Japan realy doesn't seem to have a clue. Spending $ on public works pork and no clear policy going forward. Even strong companies like Sony may be distracted and burdened by the gang of fools. Fighting over the driver seat while going down a freeway is not a good idea. Also picking up a bunch of freeloading hitchikers when you have someplace to go is not a good idea. What is going to happen after next tuesday? Tony
Fund Hopes Lift Stocks
TOKYO -- Stocks opened sharply higher Thursday amid hopes for public fund buying ahead of the release of an outline for the next economic package by the ruling Liberal Democratic Party.
The Nikkei Average of 225 selected issues was up 359.04 points to
17017.38. The index rose 51.95 Wednesday. The near-term June Nikkei futures contract was bid-only at 16760.
Prices are usually weighed down by the technical ex-dividend factor as Thursday is the first session for trades to be settled in the next fiscal year beginning April 1. But bullish market sentiment has more than covered the technical downside pressure.
Nikkei futures prices finished its Wednesday Chicago trading at 16785, up 325 points from its Wednesday close in Osaka.
Leading financial daily Nihon Keizai Shimbun reported Thursday morning that the government and the LDP decided Wednesday to
adopt an economic stimulus package worth at least 12 trillion yen. Previously, participants had expected around 10 trillion yen.
The package includes public works spending in new areas, such as information technology, and contains tax cuts to promote
educational and social welfare projects. Public funds would also be injected in banks to enable them to dispose of bad loans, the
Sony is down a couple hundred yen mid morning 24th in Japan. Article says Wed, tomorrow is the last day corporations can sell to record profit from Sony onto this years balance sheet.
This is an interesting article about Godzilla soundtrack. Bring the big ape on. Yahoooooo.
I know it is not much but Sony just announced an additional dividend of .079 on top of the .193/4 they usually pay; I love Sony's products. I know that the stock will rise, I have owned Sony for quite a while and originally paid $20.00 per share.
Sony Corp 10800.00 11000.00 -200.00 -1.82
Traders in Japan apparently expect tomorrows trading to be volitile. Some will be buying expecting bail out package to surprise, some will be selling expecting package to disappoint.
Still my personel $ is buying sne. I am counting on the lack of controle in US spending and the run up of gigantic trade
deficits in the US to lower the price of the dollar. The BOJ, and other entities in Japan hold huge amounts of treasuries. I feel
they are more in controle than news would lead one to believe. Expect Japan can put the yen/dollar anywhere they want and the yen
is low only becouse that is what they want in Japan. Sne makes $ in Marks, Dollars and just about all currencies. Expect them
to do just fine and expect I am getting a very good price. No hurry, just buying. Tony
WSJ did a nice article today on Sony and its Columbia Records section. If you are a Dylan fan you will like this site. Has his box sets + lyrics, etc. One can listen but only to a small piece of each song (drats).
Entertainment + Technology (A Special Report): Making Money
Net Sounds: Can the Web sell music? Sony is determined to find out
By Patrick M. Reilly
Frequent updates are one plus. Take Sony's Bobdylan.com site, which was picked by Yahoo and USA Today as a "hot site" and "pick of the week," respectively, after its December 1997 launch. The site contains many nifty features: Fans can search the songwriter's vast catalog by keyword, for example. But, to keep visitors coming back, the site makes available a new, previously unreleased Bob Dylan song almost every week.