Win Lose or Draw : Be A Steve, Make A Call Message Board

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Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

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To: rogermci® who wrote (11301)	5/23/2003 10:41:34 AM
From: who cares?	Read Replies (3) of 11447

Roger how can the market have priced in the tanking of the dollar? The dollar has moved from $1.05 to $1.1789 against the euro since mid march. 10 Year bond yields moved up but have since fallen from 4.1-3.29 range, yet the Dow has went up over 10% during the same time frame. I think a lot more reasonable explanation than the equity market is smart and looks ahead, is the equities markets are dumb as a brick and are being gamed to get the little guy and Super Nintendo generation Cramer wannabe fund managers to buy with both fist. It's working, and I expect one more upleg here in the next few weeks, then I think the market is toast. This second half recovery will be one more myth. This tax cut will more than be gobbled up by the states, and sometime in the second half the equity cash out refi game will end when mortgage rates stop coming down. The fed has been putting off taking it's punishment for the stock bubble for too long and made other bubbles instead. Now those are beginning to be dealt with. Hard to recover when the excesses are not allowed to wash themselves out of the system.

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