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Politics : Welcome to Slider's Dugout

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To: crdesign who wrote (3853)	11/28/2006 10:25:56 PM
From: Jamey	of 50725

"Tim, for the past few weeks we've been suggesting that a correction should come, but what would be the cause and when? Wal-Mart Stores Inc.'s (WMT) poor same store sales figures were fingered as "a" culprit, but other retailers reported healthy sales. I'd pin the reason for today's sell-off on the rise in currencies [falling dollar], precious metals and commodities. As readers of this column know we've been highlighting what we chose to call the "usual suspects": energy, bonds, the dollar and precious metals, homebuilder's and consumer sectors to name a few as the potential source of trouble. Many times corrections come from left field or unusual events, particularly when equity markets are overbought. What's interpreted as poor WMT sales data isn't one of them frankly. No, the dollar's condition stands out today. Why? Because precious metals markets soared, bonds were flat and no other sector was spared from selling." Got plenty of charts for you to mull over... David Fry's Daily Market Outlook seekingalpha.com

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