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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: heraclitus who wrote (8772)	11/4/2002 3:43:41 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 89467

Poor guy..? What..pray tell ...IS a poor guy...?.<g> T@gwbJr.com

To: heraclitus who wrote (8772)	11/4/2002 3:52:29 PM
From: Jim Willie CB	Read Replies (2) \| Respond to of 89467

stocks fail to hold Dow +210 now at +60 and wandering about at undeserved levels finance.yahoo.com^DJI&d=c&t=5d&l=on&z=b&q=l dollar rose very reluctantly, now even important note is US$ remains well under Sinclair's critical 107 dollar has refused to confirm any stock rally during two weeks largely a bond-stock rebalancing that got out of control, but a domestic phenomenon quotes.ino.com gold was attacked, but held its ground during skirmishes, closing at #318 kitco.com while gold miners reverse upward, to finish around +2% finance.yahoo.com the day is not over, but the battles are over for today the past few weeks are precisely how train wrecks occur most are accustomed to wrecks occuring in October economic news is bad economic leading indicators are bad forward guidance is bad consumer confidence is worsening morsels of good news or good hints are blown out of proportion pension news is worsening pockets of housing price declines are reporting mortgage rates are rising trade gap is widening S&P true operating earnings are 30-35% below statements rebalancing continues with newly found momentum this is how train wrecks occur just when investors might expect the economy to revive, it will likely falter into recession just when investors cling to the false hope of ever lower interest rates, they forget even the most recent two years of evidence that lower rates are NOT THE ELIXIR NEEDED TO RESUSCITATE THE ECONOMY this is how train wrecks occur holding my golds, which have held well in October the inverse relationship between gold and S&P is somewhat disconnected more important is the inverse relation between gold and USdollar the dollar failed to confirm the recent stock rally thus gold held its ground the next downleg for stocks will be accompanied or led by a dollar decline resumption my guess is the dollar will move from 106 now to the low 90's and lead stocks to new lows, with available momentum off this unwarranted rally dunno when, only know it will / jim