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To: Haim R. Branisteanu who wrote (130394)	10/20/2001 8:19:38 PM
From: Bull RidaH	Read Replies (2) \| Respond to of 436258

1. It's a widely reported and known fact there was a massive and possibly unprecedented flight out of the dollar after the attacks... to the yen, euro and other "stable" currencies. Who was forced to take the other side of that action? 2. It happens... a) when the U.S. once again looks invincible after routing the Taliban and brings back Osama's scalp... b) when the dollar looks safe and has not suffered the forecasted setback a few weeks to months after the Euro formally launches 1/1/02 (This psychological set-up will parallel the Y2K scare in equity markets, when visionaries were forecasting a debacle in the markets, which did not occur til all looked safe and sound a few months later)while the European economy still looks sluggish and not likely to recover as fast as the U.S. economy appears to be as the dollar is lurking at all time highs vs. the Euro (not to exceed .82), making investors feel very bad & very wrong for not being dollar bulls ... c) U.S. equities reach attractive valuation levels that once again tempts foreign money to flood back in and buy them (SPX 800, Dow 7200, Nasdaq Comp 850). They'll be right on the massive rally off those levels but will lose part of their gains in currency translations as the dollar falls. d) Bush adm. begins to ease away from its strong dollar policy to assist embattled U.S. industries. I expect these scenarios to be operative in the first quarter '02, and thus the start of the dollar's decline from the .82 area vis-a-vis the Euro.