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Politics : Stockman Scott's Political Debate Porch
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To: stockman_scott who wrote (5011)8/22/2002 10:53:00 AM
From: Jim Willie CB  Read Replies (1) of 89467
 
strange phenomenon I aint seen before now with S&P stats

PPTeam and major Houses may have done a REPAIR JOB
but I believe it is a CON JOB
market internals like Adv/Decl and Volume dont look great
(they can only control a few key bigname influential stocks)

but market technicals are looking decent again
hovering now near key Moving Average levels
enough to fool many people
even the USdollar is looking like a 20MA/50MA bull cross is imminent

amazing what you can do with govt money behind you
but they cannot change some facts of life
earnings suck, forward guidance will suck, consumer spending is starting to suck, capex still largely sucks, LeadEconIndicators starting to suck, trade gap sucks bigtime, fed deficits worse than suck, key BigMoney like Saudis starting to depart (which sucks), war prospects cast a sucky pall over the world economies

we are setting up an extreme low pressure vulnerable zone
but at least market technicals for S&P and US$ looking good

AS BILLY CRYSTAL SAYS: "BETTER TO LOOK GOOD, THAN FEEL GOOD, DARLING !!!"

the recent bond rallies put the USdollar is a worse position
regarding lower rate prospects necessary for bond principal gains
regarding comparative competitive rates versus other currencies

something ugly this way comes
/ jim
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