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

To: ajtj99 who wrote (94920)	7/15/2002 9:39:23 PM
From: Jdaasoc	Read Replies (1) \| Respond to of 99280

But dollar could reverse on sense of improvement in US economy and then money flows in to cheap US market. I just think it takes some strong action from our government to do that. Not just Dell and Intel beating lowest end of sales guidance by $100 M.

To: ajtj99 who wrote (94920)	7/15/2002 9:47:03 PM
From: t2	Read Replies (1) \| Respond to of 99280

SPX needs to get over 935 before it can get serious buying, IMO. 923 won't do it. USD dropping says this ain't over. Aj, Bonds sold off today and stock market rallied late in the day. That can keep happening. To some, a weakening currency is more bearish for bonds and cash. Most of the DOW names (and also SnP since is market weighted) benefit from a weaker dollar. Tom McManus today took more out of bonds and into stocks..he seems bearish on bonds and he is one strategist with a great track record over the past 2 years. Money out of bonds and into US stocks/international stocks/international bonds....all still point to a higher market as people protect themselves against currency drops. Dow names better buys on a fundemental basis..PEs are lower. Nasdaq just because they have been beaten up for so long but valuations still high. IF there is a move out of bonds, it is likely to lead to more DOW buying. If a panic sets in on US dollar, maybe the effects can be a Dow melt up. Dow melt up not a likely scenario but it can happen....this sort of thing is not unprecedented. Not saying this will happen, just that there is a possibility when currencies get hit. jmho