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S&P 500
6,813.52
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US TECH 100
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-0.01%
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Post# of 704041
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Ace Hanlon

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Ace Hanlon

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Saturday, 09/14/2002 2:03:46 PM

Saturday, September 14, 2002 2:03:46 PM

Post# of 704041
Has anybody noticed that global markets have barely responded to the sharp dollar rally over the past few weeks? Japan is at a new low and Europe is only 3% above its low. The S&P 500 -- still up about 10% -- has made the best showing.

This pattern is ominous IMHO. If markets can barely rally on a strong dollar bounce, what will happen when the buck begins its next trip south (probably to below 100)? Looks like we will see new lows (possibly substantial new lows) in all major markets before we can get a strong multi-month rally.

“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi

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