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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Crimson Ghost who wrote (63439)5/7/2002 10:40:18 PM
From: t2  Read Replies (2) of 99280
 
George, I think we are seeing some market manipulation here. The afterhours trades, especially on Cisco were not justified based upon the Earnings/Guidance. The amount of the move and the futures trading is what makes me think this way. The fact that the bombing had no effect only strengthens my view; that should have at least created a small drop..but nothing happened in AH.

Over in Asia, they are saying that the strong productivity numbers are responsible for the dollar's 1 day rebound after a sharp sell off. So the Asian currencies are weaker..and their central banks sit on huge dollar reserves which were created to defend their currencies, not weaken them. I don't think they had been expecting to run into the reverse type of problem of weakening their currencies against the dollar....if my hunch is correct, their dollar holdings means the US$ is a bubble right now.
Japan talked down the Yen yesterday.
My belief is that each of those central banks are looking to reduce their dollar reserves before their neighbor countries do..and their trade with the US makes it harder to accomplish this.

Watching the US$ index--
quotes.ino.com

If it drops by tomorrow AM, that could create a problem for the US market "rally".
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