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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/23/2001 12:46:25 PM
From: besttrader   of 37746
 
12:30 ET Dow -100, Nasdaq -45, S&P -15.21: [BRIEFING.COM] The markets continue lift somewhat off the day's worst levels.
Market internals have improved mildly but there is nothing to suggest substantial underlying strength. The dollar has weakened by two points
against the yen in today's trading. While there isn't an obvious explanation for such a move, an argument could be made it's supportive of
recent strength in gold. Both the dollar and gold are favored as safe havens and some suggest gold is rising in favor relative to the
dollar. Separately, Reuters is reporting that a New York law firm has filed a petition asking U.S. regulators to widely circulate findings and
include a strong warning that Pfizer's heart disease drug Cardura was less effective at reducing some types of heart disease than an older
treatment. The petition alleges that Pfizer has worked to minimize publicity of the data. An FDA panel is scheduled to discuss the petition in a
public meeting on Thursday. Briefing.com is also hearing reports there are three large sellers in the Pharmaceutical Holders Trust (PPH),
which is taking down the group. DJTA -1.1%... DJUA +0.8%... SOX -3.2%... XOI -0.9%... BTK -4.1%... Nasdaq 100 -2.6%... S&P
Midcap 400 -1.8%... NYSE Adv/Dec 1039/1857... Nasdaq Adv/Dec 1250/2282.
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