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Gold/Mining/Energy : Meteor Technologies

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To: The Barracuda™ who wrote (2012)	9/23/2000 11:43:38 AM
From: The Barracuda™	Read Replies (2) of 2127

The stock markets have just started purple roaring streaking advance. Why? Does anyone remember the 1985 Plaza Accord? The US dollar had been soaring since Jimmy Carter left the scene, by the mid '80's the super strong US dollar was causing problems for US businesses. [What was the cause of INTC’s earnings warning on Thursday? Answer: the weak Euro .] So the US and other G-7 central banks announced at the Plaza hotel that the G-7 central banks would intervene in the currency markets to lower the US $. An Euro intervention will place money directly into US company’s pockets. Yesterday, the G-7 central banks announced that they were going to intervene in the forex markets to support the Euro. Also, several companies that have reported poor earnings have blamed the price of oil; yesterday, clinton announces the release of 30MMbbl from the US strategic reserves. The oil markets current backwardation, means that clintons release of oil has capped the oil rise and probably will cause the oil markets to return to a more normal contango (for a while). Technical Indicators 1) Wednesdays Arms index of 2.71 was incredibly bullish. Those type of readings usually occur only at important lows 2) The Pacific Stock exchange's Wednesday put call ratio of 0.76 was extremely bullish for tech issues because techs make up most of the Pacific options trades. The CBOE put call index was 0.51, which is very bullish for the stocks represented by that index. The .76 and .51 ratios mean that as usual, the techies will be the strongest in the coming rally. 3) Extremely heavy vol on the NASDAQ yesterday with a NASDAQ V bottom when the Euro and oil interventions were announced 4) Presidential election year. Could the two interventions have anything to do w/ that?

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