To: William H Huebl who wrote (34907 ) 12/3/1998 8:25:00 PM From: James F. Hopkins Read Replies (2) | Respond to of 94695
Hi Bill; I'm sure you remember me saying a lot of times to watch the currency, well no one seems to talk about it or take it into consideration, the Bulls better wake up, because if they compare stock prices only using U.S. dollars they see one thing, but if you take away the amount the dollar has fallen you see something else. -------------------- A real bull market has your stocks going up and your money at least stable, good god we are 20% off their yen since this started in late Aug, and most 10% off the EU..factor that in and we went no way near new highs, on a global scale. And the dollar fell again today, when people wake up to the fact that while the Japan market may not look like it has out run us IT HAS GONE UP 32% in real terms , ie if you cashed in Japanese stocks now compared to what they were late August, you would not only get the up in the index, but get it in yen and be able to cash that for 20% more dollars, or buy 20% more US stocks than you could have with the same yen back in AUG, in effect on the global front, WE are still in bear stage..the run up has been a lot of smoke and mirrors. Had you bought the Japan Web at our August low you would be way ahead of what this market has done since then. Yet all the pundits are telling us how bad off Japan is..even while it's been flying since August. They just look at the indexes and don't convert the currency. About the only thing that hasn't creamed us is Brazil, thanks to Greenspam pulling the wool over every ones eyes as he bailed out his cronies from their foreign mistakes, ( at out expense ). And BTW the big boyz done got out of Brazil. Jim