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

To: Jorj X Mckie who wrote (15796)	12/9/2002 10:56:03 AM
From: Techplayer	Respond to of 57110

Based on the sentiment in these comments, I would not expect the longer term trend to change. "Investors weren't responding well to news that the White House will nominate CSX Corp. (CSX) chairman John W. Snow as the new Treasury secretary. CSX Corp. is a transportation conglomerate that runs the largest rail freight network in the eastern United States. "Read market pulse." The dollar was weaker against the yen but stronger versus the euro as Snow's appointment could lend some support to the view that Paul O'Neill's abrupt departure from Treasury signals the U.S. is ready to ease off on the "strong dollar policy." "Mr. Snow, who headed up the largest rail freight network in the eastern USA, is seen as someone who may tolerate a softer dollar which already is in a bear trend (down 7% against the yen and 12% versus the yen YTD)," said Merrill Lynch Chief North American Economist David Rosenberg. "A weaker dollar should favor large-cap multinationals over small-caps given the former's larger international exposure and sensitivity to FX shifts. A softer dollar should also be good for gold, but not necessarily for the overall market given the close correlation between the greenback and S&P 500 (and the Nasdaq too)," he said in a note

To: Jorj X Mckie who wrote (15796)	12/9/2002 10:59:12 AM
From: X Y Zebra	Respond to of 57110

Yes, but one could also make the case to be "forming a base" using your own chart, (I am not arguing with you). I just simply have a hard time finding a better alternative to dollar based assets. I do not believe in the Euro and the Yen, based on similar arguments made against the USD, is even worse. On a weekly basis, the 105 level continues to be major support... stockcharts.com[w,a]wacaynay[pb50!b200][iUb14!Lp14,3,3]&pref=G On a different subject... Take a look at AMGN, seems to be gathering strength even in this latest market retracement stockcharts.com[w,a]waclyyay[de][pc20!c20][vc60][iut!Ub13!Lf]&pref=G