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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Moominoid who wrote (4325)8/3/2001 11:40:14 AM
From: Louis V. Lambrecht  Read Replies (1) of 33421
 
David - funny you relate the Dollar strenght to the Nasdaq.
For my part, I check the Nasdaq against the Euro, sort of "repatriation" signal.
Watching this since Sep last year and had good confirmations of Nasdaq moves: for instance, when the Nasdaq rallies and the Euro prices higher, the rally is out of steam.

Foreign investments account for roughly 10% of the equities market.
If one third, or a fourth of these investments are speculative money, this still is a huge amount to be added or withdrawn from the equities market at the click of a button.

So, I don't know if a weaker Dollar would pull down the Nasdaq as you say. IMHO, a weaker Nasdaq profits to the Euro.
Both statements could be true at the same time though.
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