Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Crimson Ghost who wrote (14840)	6/27/2002 11:21:02 PM
From: isopatch	Read Replies (3) of 36161

George. If the $ could rally you'd get a more pronounced correction in gold and more of a foundation for a rally in the broad stock market indices. But so far? No dice. quotes.ino.com And todays weakness in the key 10 yr Tsy and Dow Utilities is not supportive of the dollar. Some articles in the financial media tried to spin this weakness in the fixed income arena as a reaction strong economic numbers. IMHO? Not so. If that were the case, the dollar would be be stronger, not weaker. Forgners hold about 40% of our Treasury securities. Before they can further lighten their exposure to the swooning dollar, they have sell more of those bonds. So, I'd keep a close eye on the mid to long dated Tsy markets to warn us of the next downward acceleration in the clown buck and a corresponding firming in gold. BTW, some nice calls on the yellow lately ole timer.<g> Isopatch

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