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| Alias Born | 10/26/2001 |
Thursday, November 01, 2001 11:13:21 AM
My gosh! NAPM was awful.
However, something to note:
The resiliency of the USD and the stock market.
In the face of one of the worst monthly declines in manufacturing in the NAPM report ever, the dollar and the equity markets both rebounded with surprising strength.
Look at the QQQ reaction right after the NAPM release. Big drop followed by an impressive recovery:
Looks like there is some underlying strength in the markets. I hope it continues.
-B
However, something to note:
The resiliency of the USD and the stock market.
In the face of one of the worst monthly declines in manufacturing in the NAPM report ever, the dollar and the equity markets both rebounded with surprising strength.
Look at the QQQ reaction right after the NAPM release. Big drop followed by an impressive recovery:
Looks like there is some underlying strength in the markets. I hope it continues.
-B
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