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Microcap & Penny Stocks : Rat dog micro-cap picks... -- Ignore unavailable to you. Want to Upgrade?

To: Kathy Riley who wrote (8831)	7/25/2002 8:27:47 AM
From: Bucky Katt	Read Replies (2) \| Respond to of 48461

Today is critical if the "rally" is to continue. I can't even guess what will happen during trading today... But I am ready for anything.. __________ London, July 25 (Bloomberg) -- The dollar slipped against the euro as investors speculated U.S. stocks will decline following the biggest rally in 15 years, curbing demand for the U.S. currency. One euro bought $1.0010, compared with 99.62 U.S. cents late yesterday. It earlier rose as high as $1.0022, taking its gain to almost 13 percent this year. The dollar was trading at 116.65 yen, compared with 116.31. ``We are not out of the woods yet with U.S. stocks -- there are still investigations into companies being announced,'' said Rod Davidson, who oversees 30 billion pounds ($47 billion) of assets as global head of fixed income at Aberdeen Asset Management Ltd. in Glasgow. The company holds fewer dollars than recommended by the benchmarks it uses to gauge performance. Nasdaq 100 futures fell 10.5 points to 941.5 and futures on the Standard & Poor's 500 index slipped 4.2 points to 839.80. AOL Time Warner Inc. said the Securities and Exchange Commission is probing a unit's accounts. The S&P 500 yesterday had its largest percentage gain since rebounding from the October 1987 crash. On nine of every 10 days in the past three months, the dollar has moved in the same direction as U.S. equities, according to Bloomberg calculations. Stocks have tumbled on concern companies have falsely inflated earnings and amid signs of slowing growth in the world's biggest economy. Opportunity ``The U.S. stocks rebound is good news, but it's probably a short-term fluctuation,'' said Margaret Lin, who runs $24 million in stocks at Truswell Securities Investment Trust in Taipei. ``This is a good opportunity for investors to sell shares.'' Still, Davidson said the correlation between the U.S. stock markets and the dollar was ``dropping away.'' While equities have also fallen in Japan and Europe in recent months, the dollar has dropped because the U.S. current-account deficit means it must attract more foreign investment to sustain its currency. The U.S. trade deficit widened to a record $37.6 billion in May, as imports rose 1.8 percent and exports added 0.7 percent. The wider current-account deficit was $112.5 billion in the first three months of the year. The euro was also boosted by gains in European equities. The Dow Jones Stoxx 50 stock index surged 4.7 percent, after closing yesterday at its lowest since October 1998. Any gain in the euro may be limited by a report that showed German business confidence fell for a second month in July as stocks plunged and the euro's advance threatened exports.