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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (6170)	5/23/2002 12:12:28 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Joel, the Nikkei is looking pretty darn strong. It's getting ready to make a new high for the year and we could see a pretty good rally to 13000. I was writing back in Feb on the Market Lab thread that I think the bottom is in for their stockmarket. Time will tell. good comment from briefing: ---e confusion as to why dollar/yen has not found much support from Japanese intervention. For our part, we would note that the culative community does not hold a large net short position he pair, a dynamic that supports some of the chatter we have heard surrounding fund managers looking to rease their exposure to yen-denominated assetsin addition, we would not underestimate the heightened terrorist concerns now weighing on the greenback. Finally, it seems as if intervention may be lacking some nearby credibility with Japanese officialdom now trying to talk the dollar higher, rather than exclusively trying to dampen the market's exuberance surrounding the recovery prospects in Japan.