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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (10493)	8/20/2001 11:47:42 AM
From: Haim R. Branisteanu	Read Replies (1) of 209892

My question was from a pure EW point of view. Europe is thanking with the US so there is an arbitrage trade right now about who's economy is weaker. dailynews.yahoo.com ``There has been a trend decline in the equity flows going into the U.S. for a number of weeks,'' said Jim O'Neill, managing director and chief global economist at Goldman Sachs. Recent bad news from the U.S. has shaken investors belief in a V-shaped recovery and increased fears that U.S. trend growth rates have been overestimated. Despite this, fund managers are unlikely to shift assets quickly to the euro zone or Japan unless those economies show signs of renewed dynamism. ``This is a U.S. driven development and is certainly not euro led. The euro is being dragged up by default,'' O'Neill said. ``Europe and Japan have had this never ending ability to disappoint people and that doesn't look like that's going to change in a hurry. If we continue on a diet on poor information from Germany and much of the rest of the world, I don't think you will see a major asset reallocation,'' he said. Goldman Sachs is predicting the euro will hit $1.01 in six months and $1.10 after one year.

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