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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Jim Willie CB who wrote (50990)5/5/2002 8:49:58 PM
From: t2  Read Replies (1) of 65232
 
The dollar slide should continue in the coming weeks. We may disagree on whether treasuries or stocks get hurt more (my feeling being that big cap Dow names will get a flight to quality play out of bonds...and there is a lot of money in bonds..that is where foreign buyers park their money)
I think the Naz gets whacked in any event, dollar may have little to do with a drop in that index.

Of course, I think Gold is best, just like the author in that article I had posted.

Right now US$ index has hit 113.59.....114, which was the support is now resistance. Looking for a small pop over 114...and a major drop after Greenspan confirms what everyone expects...no change in interest rates. That could be the big catalyst.

We have max pain on QQQ at 33 for options expirations....that might also create a short term spike in the Naz going into options expiration..has worked for several months...I give lower odds of it happening this month though.

That safe money on the sidelines is going to lose money..just from dollar devaluation.

Xerox is interesting. We have seen how WCOM got taken out...so surprised it is under $2..would not have believed it a few weeks ago. There could be a lot more on the way. Xerox might be one of them although I saw the CEO on Friday defend her company against Moody's actions.

Traders probably already stopped shorting the cheap stocks like JDSU, GLW etc...I wonder if buying puts on such names might be a good idea in the near term--not necessarily these two but you get the idea of the types of stocks I am talking about.
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