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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Steve Lee who started this subject6/25/2002 2:34:44 PM
From: Softechie   of 99280
 
MARKET TALK: Dollar Falls With Stocks

25 Jun 14:09


Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201-938-5299; All Times Eastern)

2:09 (Dow Jones) The dollar is hitting lows of the day versus major
counterparts as the stock market continues to head south. EUR/USD stands at
$0.9768 while USD/JPY has fallen to Y121.48. (TDL)
2:00 (Dow Jones) Stocks give up gains completely, and are in deep trouble.

Nasdaq Comp again below what Merrill technicians say is vital 12-year bull
trend line at 1438. Quarterly close below there (Friday) favors more intense
price erosion on short-term basis, with bull-market trend from 1990 "extremely"
damaged and muted recovery activity likely for balance of 2003. DJIA off 28 at
9253, Nasdaq Comp sheds 26 to 1435, and S&P 500 falls 4 to 988. (TG)
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