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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (87083)	6/27/2002 9:07:22 AM
From: michael97123	Respond to of 99280

zeev, I for one thought the dollar had been way overvalued prior to this decline. One could make the case that it is fairly value here or even a bit lower. If you remember the hype when the euro was born they were expecting it to trade at 110 not 86, not 98. What the US has to be careful about is controlling those future deficits going forward both balance of payment and national debt. Time to pay for this war. Time to win this war. I said yesterday that i hate taxes but would gladly pay a war tax knowing that lower deficits would lead to higher returns for me in the market offsetting the extra 1% in the tax rates. mike

To: Zeev Hed who wrote (87083)	6/28/2002 5:42:51 AM
From: Steve Lee	Read Replies (2) \| Respond to of 99280

"Come on, they'll have to raise the limit, and in anticipation, the dollar might turn for a bit. I think the dollar weakness is more due to our intrinsic negative balance of payment.." Looks like you are right about the debt limit not being a factor. Congress gave Bush his extra $450M but futures and dollar are both down again. I was expecting a hefty pop when the debt limit got raised - it was a factor that helped deter me from taking a short on QQQ at Thursday's close.