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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: James C. Mc Gowan who wrote (30800)	5/12/2003 4:05:38 PM
From: Art Bechhoefer	Respond to of 36161

>> the US equity markets are still ridiculously overvalued << Some equities are, but many are not, particularly in the battered technology area where companies derive a substantial portion of their earnings from Europe and Asia. In a period where the dollar is falling against foreign currencies, one should look for earnings gains at least from foreign exchange translation, even if unit sales remain flat. Instead of using money market funds, one might do a lot better with closed end municipal funds. Since I live in New York state, I like funds such as the Nuveen Select NY (NXN), with a tax free yield of 3.5 percent and a monthly dividend. Sure beats a money market fund. Art