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Strategies & Market Trends : Strictly: Drilling II
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To: nspolar who wrote (25279)1/10/2003 6:47:05 PM
From: Art Bechhoefer  Read Replies (2) of 36161
 
>>Some like 3M may also be affected by a weaker dollar.<<

That's part of the problem of buying puts on a stock like MMM. MMM has huge foreign sales, but its profits in Euro countries have been depressed because of foreign exchange translation losses. With the Euro having moved up from about $0.87 to $1.05 in barely more than 3 months, companies like MMM, KO, and IBM will find it much easier to generate profits from Euro countries. I'd look at the falling dollar as a positive for companies with substantial business in Euro countries.

Art
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