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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01 -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (8750)	5/11/2001 4:08:28 PM
From: Bucky Katt	Read Replies (2) \| Respond to of 13094

It's all gone now...$15 was the target. 2 others from the Rat thread, from the way back machine, LB & KMX doing well, although I do not own either one at present. This is one of the reasons they are floating the world in paper>Buenos Aires, May 11 (Bloomberg) -- Argentine bonds fell for a third day this week on concern the government may have trouble completing a bond exchange of as much as $20 billion to stretch out its debt payments. The country's floating-rate bond, or FRB, fell as much as 3.2 percent to $81.63 per $100 face value of bonds to yield 17.24 percent. The mid-afternoon trade the FRB was down 2.9 percent 81.85. ``As yields rise, the exchange gets more difficult to carry out,'' said Marcelo Nicoletti, who manages about $500 million for ABN Amro Asset Management in Argentina. ``With doubts about how and when the government could do the exchange, people sell.'' The government hopes to ease the nation's financial burden by swapping debt maturing before 2006 for longer-dated bonds. Some investors worry the government may be forced to pay large premiums, or reduce the transaction's size, to convince investors to exchange bonds as local interest rates rise and the economy shows few signs of recovering from recession. ``The size of the debt is the crucial problem,'' said Jim Alban Davies, head trader for Credit Lyonnais Securities in New York. ``At the best, what they're trying to do now only puts the problem off until later.'' Walter Molano an economist and head of research at BCP Securities in Greenwich Connecticut, said investors should give up on Argentine securities. ``It's time to pull the plug,'' he said. Brazil A decline in the currency of neighboring Brazil, Argentina's biggest trading partner, added to investor concerns. Brazil's real has weakened almost 15 percent against the dollar this year, making Argentine goods less competitive. The weaker real has also caused consumer prices and interest rates to rise, threatening to slow Brazil's surging economy. At the same time, drought in Brazil has caused the levels of hydroelectric reservoirs to decline, raising the threat of rationing and further slowing in an economy heavily dependent on hydropower The funny thing is, no one seems to ever actually pay off any principal, they just roll it and stretch it. Smoke & mirrors, Imo. As for things like gold, when the big money types are in position to make $$ from and upmove, that is when it will move. Otherwise the range is $259-275, and that does provide for nice pops in some of the stocks.