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Technology Stocks : IPOs: Too many, too fast, to little buyers? -- Ignore unavailable to you. Want to Upgrade?

To: Mad2 who wrote (79)	7/19/2004 9:06:58 PM
From: RockyBalboa	Respond to of 84

The other interesting angle is that evidently the dollar revaluation over the last 3 years didn't hurt at all (as measured in import prices, save that for the oil, currently). In fact there are only few commodities which reflect the devalued US dollar in their prices, gold, silver and oil are, other commodities to a much lesser extent, and finished goods thanks to fierce competition and once lofty but now declining gross margins, not at all. So when the dollar depreciation doesn't hurt, it only means that in reality it only corrected from overvalued levels with possibly the bottom yet to be found. Throw in the newfound strength of the japanese Yen and it is clear that there is no need to float the yuan. The dollar does the floating. The real concern is that the US is exporting downward pricing pressure abroad and this is not new, but something we perhaps remember from the Japan scenario in the 90's. In doing that, gross margins of the production abroad (even in China) are hurt. With the only real tax in the form of a higher oil price there might be a sort of liquidity driven hausse in the US which seems so fragile that the fed may not rise rates ahead of a certain level at all and for a prolonged time.