John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Hawkmoon who wrote (11719)	2/4/2009 9:16:11 PM
From: John Pitera	Read Replies (1) of 33421

Hi Hawk, we shall see. Maybe rally to March and then make new lows??? These markets have been apocalytic in so many respects. So many things that were not seen as remotely possible have become so. The $COMPQ, looks a bit better than the SPX, as does the DJIA. Changing gears, Russia has seen a 210 Billion dollar erosion of their foreign currency reserves since the summer, which has been attributed on cnbc to capital outflows. Obviously, the incoming Crude and Natural Gas Revenues have been dramatically reduced with the large reduction in energy complex prices. That's in turn said to be weighing on the EUR. I guess the question is what would cause a downturn in the USD? John

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