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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?


To: Dealer who wrote (43762)10/31/2001 10:34:02 PM
From: Dealer  Read Replies (1) | Respond to of 65232
 
Asia Markets

Tokyo stocks rebound in early trade

By Mariko Ando, CBS.MarketWatch.com
Last Update: 7:45 PM ET Oct 31, 2001

TOKYO (CBS.MW) -- Investors bid up Tokyo share prices Thursday morning in a rally that would snap a four-day losing streak after a smaller-than-expected contraction in the U.S. economy.

Shortly after the open, the Nikkei Average rose 58.92 points, or 0.6 percent, to 10,425.22, while the broader TOPIX picked up 0.6 percent to 1,065.77.

Market sentiment was assured with the Wednesday's U.S. gross domestic product data, which showed the economy has shrank 0.4 percent in the July-September quarter. The figure was better than economists' projection of a 1 percent fall.

Following the release of the data, the Nasdaq firmed 1.4 percent while the Dow lost half a percent.

In South Korea, the benchmark Kospi fell 0.2 percent to 536.55 points in early trade. Australia's All Ordinaries Index was trading flat at 3187.70 points.

In the currency markets, the dollar was quoted at 122.41 yen early morning Tokyo, little moved from 122.45 yen late Wednesday in New York where it firmed as much as to 122.65 yen.

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To: Dealer who wrote (43762)11/1/2001 10:32:36 AM
From: Jim Willie CB  Read Replies (2) | Respond to of 65232
 
yes SS, I agree... GreenSperm is the big problem
and consumers are not the ultimate engine in our economy
it is business investment
consumers are the tail on the dog
as long as the world is spinning in unison with recession,
business investment is likely to remain moribund

the next big stories imho will be bankruptcies
not just large US firms with wellknown brand names
but large US banks on the brink
gonna be reallllly hard to spur econ recovery in such a climate
I expect fear will grow, and legitimately so

did anyone notice how the Dow and S&P midSept gaps all filled up?
if not gappy gaps, then certainly large swoons
Dow rose to put density in the chart up to preWTC levels
then sputtered

rallies built upon real Fed stimulus, illusory Tax stimulus, and US flag waving... just wont sustain itself

I wonder who if anyone among pundits or talking TVheads has any credibility remaining ???

Mauldin's 3 Amigos (Junk Bonds, Mfg Cap Utilzn, NAPM prices) are all heading down with no sign of rising
an economic recovery is a hope & prayer without the 3 Amigos dancing
/ jim