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To: PaulM who wrote (56603)	7/20/2000 10:04:31 PM
From: Hawkmoon	Respond to of 116825

Well Paul... you might want to consider the strength of the US dollar over the next coming weeks. With DeutcheTelekom offer $53 billion for Voicestream, that's a whole lot of Euros that have to be converted into Dollars. futures.tradingcharts.com It will be interesting to see if US markets will trend downward as is normally the case after the July pension refunding is spent. Given the amount of damage that was done to the Nasdaq in April, we could continue to see consolidation and rebuilding between the 4000 and 4500 range, with 3500 the downside support level. Given the external factors that have warped and shaped the market this year due to Y2K concerns and then relief, we could see August trends also through the shorts for a curve, forcing them to cover any shorts they would normally place at this time of year. Today's volume certainly was pretty impressive. Regards, Ron