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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: High-Tech East who wrote (12544)	6/3/2002 10:11:16 PM
From: t2	Respond to of 19219

I doubt dollar can rally much from here; at best we get a bounce as the stock market bounces soon...probably ahead of NSM's mid day earnings report on Thursday..and Intel's mid quarter update same day---meaning a reversal tomorrow or Wednesday, imho. Also think we may approach a point where the dollar weakness increases leads to asset allocation changes, reduction in bonds and increase in stock allocations. So far the opposite has been happening in the markets. If that reverses, a near term rally could be a biggie. Max Pain on QQQ is at 33 for june expirations. Somehow "they" will get it there before expirations. The dollar has to be a bubble. Interesting article. I have put in one quote here. Most of the world banks have probably accumulated so many dollars worried about their own currencies (late 1990s concerns) and are probably totally getting blindsided by this dollar drop and unable to do much about it. Most did not see the Nasdaq as a bubble back in 1999, and the foreign central banks probably had the same view of the US dollar. Problem is that only one of these bubbles has burst so far. morganstanley.com As of year-end 2000 (last official data point as tabulated by the Bank for International Settlements), dollar-based reserves amounted to $1.450 trillion -- fully 76% of the world’s total of $1.909 trillion in official foreign exchange reserves.