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

To: Arik T.G. who wrote (30835)	5/14/2003 8:56:02 AM
From: Sharp_End_Of_Drill	Read Replies (1) \| Respond to of 36161

Arik, since the end of February equities have had a sizable bounce the world over. In a broad sense the bigger European market indices look a lot like ours, in terms of the shape and timing of the bounce. I think that is significant as the breadth of this rally has been truly worldwide. The early dates you mention, i.e. early March had the indices bouncing in step with a bouncing dollar. In the later stages, i.e. the past couple weeks they have decoupled, and the indices have rallied with a very weak performance by the dollar. I find it interesting that Asia with their heavy reliance on exports to the US would rally on a weaker dollar. Perhaps the message here is the indices have decoupled for now, and the dollar doesn't seem to matter on the downside. I was just musing that a dollar bounce might provide fuel for any upside, particularly overseas, which might spill over to our markets. Sharp