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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who wrote (7169)8/15/2001 10:48:15 AM
From: TobagoJack  Read Replies (2) of 74559
 
This 'clever' time to make an impromptu statement (on a desire or conviction for strong dollar) that should have been made all along in a broader context of policy may in fact trigger a run on the largest and most speculative debtor nation. As you noted, the reaction should be interesting, especially given the Treasury Secretary's total lack of tact and conviction, and in view of the market's apparent conviction.

Regardless of the outcome of the market tonight, I will be switching out of more dollars tomorrow. My recent acceleration in abandoning dollar positions is not haphazard, but an instinctive, organized, and paced retreat to safer positions while the running is still good.

Chugs, Jay
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