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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (8665)1/16/2008 8:12:53 AM
From: robert b furman  Read Replies (2) of 33421
 
Hi John,

Great recap.

My mind is still trying to grasp the working relationships of the currency spreads - of which your thread dares to describe and hence its great value to me.

I think Gold is collapsing as it is down some 17 bucks in premarket after an island reversal - that's ominous.

The Dollar yen is 107ish and that may create an unwinding if and as parity approaches even closer??

GZ,who has been uncanny on his S&P calls is looking for 1358 - which early this AM may have already been touched.

Futures up from a collapse position early this AM after JP Morgans tamer losses announced this A.M..

I'm thinking we may well see the domestic market look less frothy (vs emerging markets)as our Dollar weakness runs sideways in a channel that is friendly for domestic exports based USA firms.

IF this is to be a mid cycle correction - we need to bottom here with a possible retest (I'm hoping this is where we show strength and the retest finds support at a higher low).

That's a buy the dip opportunity in here very close to now.

I'm not betting the farm here don't get me wrong.I really do like the value and know that IT IS ALWAYS DARKEST - JUST BEFORE DAWN.

If commodities and emerging markets do cool off - our inflation expectations should really let the fed run here.

2 years down the road - I'll not want to be long treasuries from here.

But TIPS might be a great buy if the fed chokes off the far end of the recovered mid cycle expansion with 7 percent fed rates.

As always your guiding knowledge is greatly appreciated.

Bob
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