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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.76

-1.1%

Dec 12 4:00 PM EST

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To: Logain Ablar who wrote (38363)	11/8/2002 10:53:00 AM
From: Suresh	Read Replies (2) of 69041

Hi Tim, I have a different perspective of weaker dollar. US is a debtor nation and as such, I don't think we should see the dollar weaken further. Unfortunately we are headed in the same direction as Japan (One of my friends was telling me just to follow Japan market with a time lag and it seems to be working okay so far). Couple of things to keep in mind.... Consumers are spending but they have become more selective. Malls are crowded but they are not throwing money. I really see a sense of uncertainity creeping up in their minds. So, they are going to be spending only on necessary things... which translates to weak profits for many many tech related and discretionary retail stores this christmas. Which essentially delays the business spending. BTW, expect QLGC and ELX to announce warning before April of next year.... I am seeing another troubling sign... if it continues... God help the high tech workers of Silicon Valley and US! It will have far more implications than people think. Needless to say I am becoming bearish on the market in general and very very bearish on the techs. Later, Suresh

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