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

To: RR who wrote (45687)	12/28/2001 11:37:49 AM
From: Sully-	Respond to of 65232

Looks like it was just a squall. It's still snowing, but it is not white out conditions anymore. Local weather report calls for only 2-4" over the next 2 days.......... we got about an inch in about 20 minutes in the squall though.

To: RR who wrote (45687)	12/28/2001 12:38:32 PM
From: TimeToMakeTheInvs	Read Replies (2) \| Respond to of 65232

Happy New Year to everyone on the porch! RR, you still buying calls? Have a great one! tim

To: RR who wrote (45687)	12/28/2001 12:55:30 PM
From: Sully-	Respond to of 65232

Argentina stocks tumble on new currency fears BUENOS AIRES, Argentina, Dec 28 (Reuters) - Argentine stocks plummeted nearly 10 percent on Friday, the first day of trading since last week's resignation of Fernando de la Rua as president, amid worries about the new government's plans to create a new currency, traders said. Sovereign bond prices rose, however, on hopes the new government would be able to reestablish ties with the International Monetary Fund, which suspended $1.3 billion in aid to Argentina earlier this month. Trade was thin. The leading MerVal (^MERV - news) index was down 9.81 percent, losing 31.45 points, to 289.01 at 2:35 p.m. local time (1735 GMT). Turnover was heavy at $12.7 million. Argentina's benchmark Global 2008 dollar bond rose 1.96 percent to 26 percent of face value. Traders said stock prices were adjusting after four days of market holidays following De la Rua's resignation last Thursday amid deadly rioting in protest of his handling of the economy. In local market action, leading financial share Grupo Financiero Galicia stumbled 11.48 percent to 41.6 cents, while energy group Perez Companc dropped 13.63 percent to $1.71. Declines outnumbered advances 15 to two while one share traded unchanged. Interim President Adolfo Rodriguez Saa, in place until March elections, plans to create a new floating currency called the ``argentino'' to circulate alongside the peso, which is pegged at one-to-one to the U.S. dollar. Many analysts believe the new currency, designed to pay public workers and alleviate a cash crunch, will end up losing value quickly and trigger massive inflation. ``The market is falling because of doubts over the new currency,'' said Marcelo Paccione, a trader for ConsultCapital brokerage. Uncertainty over what other measures the Peronist Party president might implement also drove stocks lower. biz.yahoo.com