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Strategies & Market Trends : Fidelity Select Sector funds -- Ignore unavailable to you. Want to Upgrade?

To: Angler who wrote (1975)	7/28/1999 10:24:00 AM
From: MoneyPenny	Read Replies (1) \| Respond to of 4916

more bearish stuff from Princeton Nikkei Time to Sell Princeton Special Report Service Princeton Economic Institute © Copyright July 22nd, 1999 The following is a special report service provided by Princeton to alert clients of impending disasters. We do not abuse this service and sometimes there may not be a report for a few months. However, when we do issue such letters of caution, they should be taken seriously. In this particular instance, the Nikkei Shinbun reported that Princeton had issued one of these famous special reports and claimed that this had an impact in Japan. The last such major special report was issued by our Tokyo office on February 16th, warning that the dollar had reached a bottom and that a move back to 123 was now likely. The dollar/yen opened that day at 115.60 and closed at 118.73. It reached 123.75 by March 4th 11 days later. PRINCETON ECONOMICS INTERNATIONAL JAPAN SPECIAL REPORT 8AM Tokyo Time July 22, 1999 The Nikkei is starting to weaken and a break below 18110 today may start a correction process. The foreign investors have been responsible for this rally and Japanese should continue to use this opportunity to unwind their cross-holdings. With Y2K coming, all stock markets may come under pressure as capital takes a pause for year-end. Europe and America also show signs of a topping pattern. A break below 17825 on the Nikkei will warn of a drop back to 16500 as a high probability by September/October. Press reports about the FSA outside of Japan are becoming very negative and this could cause foreign selling of Japanese assets. Also the aggressive intervention to prevent the yen from rising is causing FOREX losses for those who bought the Nikkei when the dollar/yen was 112.50. This combination of trends does not look good at this time. Our major Bullish Reversals between 18500-18775 are very important. Clients should take profit now and only go back into this market if the Nikkei moves above 19000. Those who are interested in this service should contact Jim Smith in our Princeton office, Bruce Allen in London or Honda-san/Justin Piefer in PEI Japan. The package prices begin at $60,000 annually and include a full range of global capital market coverage. Global access to all services including alerts and our famous Special Reports is available at $250,000 annually and include all major equity, bond and commodity markets worldwide.