Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Susan G who wrote (6804)	10/15/2002 8:38:24 AM
From: Oral Roberts	Respond to of 57110

Rally monkey for sure. 860 print is a pretty big breakout on the SPX and we look to open above that. This will be the mother of all gaps for sure. Perhaps that guy on SI is going to get his 1000 point up day on the dow:)

To: Susan G who wrote (6804)	10/15/2002 8:45:31 AM
From: X Y Zebra	Read Replies (1) \| Respond to of 57110

lol... Watch out Susan... We could learn from these guys.... sanfermin2.com USD Up on Q3 Surprises, Yen Hits New Lows by Jes Black At 8:30:00 AM US August Business Inventories 0.1% 0.4% At 9:00:00 AM E-12 Germany October ZEW Economic Forecast 31.7 39.5 At 11:00:00 AM US September Kansas City Fed Manufacturing Survey n/f 13 The dollar rose sharply across the board this morning as US equity futures jumped on news that Fannie Mae and Citigroup each beat the Street's estimates for Q3 earnings. Dow futures soared to +130, S&P to +15 on the news. European bourses were also much higher, up 5.5% in the DAX above 3,000, and up 3% in the FTSE. EUR/USD fell over half a cent to a session low of 98.23, while the yen plunged to new 4-month lows around 124.85 against the dollar and a new 3-year low of 123.01 against the euro. Weighing on the euro this morning was a newspaper report indicating that Germany may be reprimanded for its deficit because its revenue/deficit targets remain unreachable according to some at the EU. The EU commission could give Germany a deadline of 4 months to take action to reduce the deficit and if it failed to do this, it could be fined up to 0.5% of GDP, or around 10 billion euros. Traders also dumped the euro this morning ahead of today's ZEW economic forecast from Germany, which is expected to plunge to 31.7 in October from 39.5. The index has fallen for the past 3 months and should signal further weakness in the German Ifo report for October. Germany's fiscal ills combined with the tough love policy of the European Central Bank have limited much of the potential growth from the Eurozone and weighed on the single currency as well. EUR/USD broke its tight range today and fell to a session low of 98.23, near its Friday low before stabilizing. Further falls could take the euro as low as 98.10 T/L support or 97.60, previous low. Below 97.60 turns the near term outlook bearish but would not likely last if the US equity market rally fails this week, or if dealers keep buying the dips. In fact, the euro continues to mark higher highs and lows, since its 96.10 low in September, but has yet to successfully break the 99 cent barrier as it continues in a long drawn out consolidation pattern. Four times in the past 2 weeks the euro has failed to breach this level and a break of Thursday's high of 99.25 will be needed to maintain the upward momentum. forexnews.com