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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (4038)	1/15/1999 8:05:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

Yes, they were trying to recover but when the Brazil news came out they tanked hard. I am watching the March futures right now and the spread just went a full point. Brazil currency expected to drop at least 20%. So much for our bounce. No one will want to hold over a 3 day weekend now. Debra- I am no currency expert either. I thik they are just saying that it would be a waste of funds trying to prop it up and they should let it drop. Lower money value spurs spending which helps exports and spurs consumer spending due to the buy it now or it will cost more tomorrow scenario. It is the same as what happened when our interest rate got cut a few months back. Look at the value of our dollar since it happened. Lee