MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: Compadre who wrote (14410)	5/19/1999 8:59:00 PM
From: Casaubon	Read Replies (2) of 99985

is the sudden turnaround in stocks and bonds due to flight from the asian markets back to USA. cbs.marketwatch.com I have posted earlier that the Japanese "layoffs", while possibly being a necessary evil on the road to recovery, would lead to short to mid term instability. Rising unemployment there will exascerbate debt defaults. This will possibly lead to a chinese devaluation, so as to remain competetive for foreign dollar purchases. The japanese will opt for a weak yen policy, pressuring other asian currencies to devalue and remain competetive. Europe is stalled and the UK is weakening the pound to prepare for union with euroland. The bottom line is that foreign dollars are probably going to prop up our market, while real wealth sneaks out the back door, in the form of trade imbalances. The trillion dollar question is, "can this go on long enough to prime foreign markets into expansion before the dam breaks?" edit: By the way, the drugs may be leading ealier than I anticipated. The sector just reversed up to give a bull confirmed status in P&F speak, with plenty of room to run.

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