Replies to post #13243 on Mostly: Classical

[Frank Pembleton]

Buffett less enthusiastic on euro investments

 
  
     OMAHA, Neb., May 1 (Reuters) - Warren Buffett on Sunday  
 said he still likes euro-denominated investments, but less than  
 he did when the U.S. dollar was worth more.  
     Buffett made his comment as a press conference, one day  
 after saying at the annual meeting for his Berkshire Hathaway  
 Inc. <BRKa.N> <BRKb.N> holding company that Berkshire had in  
 the first quarter maintained roughly its year-end $21  
 billion-plus currency bet against the dollar.  
     "I like the fact of euro-denominated investments, although  
 at $1.30 or so I don't feel the degree of preference I did when  
 the euro was much cheaper," Buffett said on Sunday, referring  
 approximately to the cost of buying one euro. The euro is now  
 trading at just under $1.29.  
     At the annual meeting, Buffett said Berkshire's currency  
 bet generated a roughly $310 million loss in the first quarter  
 as the dollar rose, after generating a $1.63 billion gain in  
 the prior quarter.  
  ((Reporting by Jonathan Stempel; editing by Leslie Gevirtz;  
 Reuters Messaging: [e-mail];  
 646-223-6317))  
  
 (C) Reuters 2005.   
 
                            

[Frank Pembleton]

TECHNICALS-Forex market views and key levels

 
  
     NEW YORK, May 6 (Reuters) - Following is a selection of  
 comments from analysts on important technical developments in  
 the foreign exchange market:  
      
     ANDREW CHAVERIAT, FOREIGN EXCHANGE TECHNICAL ANALYST, BNP  
 PARIBAS, NEW YORK:  
     EURO/DOLLAR: "has already done damage by breaking $1.2860.   
 This suggests re-testing the $1.2830 low of the week. Today's  
 sharp fall nullifies thoughts of a larger corrective rise above  
 $1.3000 next week...Expect short term "selling on rallies"  
 towards $1.2885/$1.2900/15 heading into Monday followed by a  
 break of $1.2830/1.2766."  
      (The euro/dollar is) "nearing 3 key levels with bearish  
 medium term and long term implications.... we're very likely to  
 see a bearish weekly close today below the three-year uptrend  
 at $1.2900 and perhaps the 200-day moving  average at $1.2848.   
 A sub-$1.2900 weekly close today would next eye testing 3 key  
 medium term support levels: $1.2830, $1.2766 (April 14 low)."  
      ...But $1.2730 is the key level.  Breaking $1.2730 would  
 damage the long term outlook via weakening the weekly swing  
 chart, creating the most prominent secondary high ($1.3480),   
 in turn increasing the probability that euro/dollar is in a  
 bear market."  
  
     JIM CHOREK, TECHNICAL ANALYST, CHOREK.COM  
     EURO/DOLLAR: "The plunge continues, recently knocking out  
 the $1.2825 low. That's further confirmation we're in a  
 decline from $1.2989. The door is now wide open to  
 $1.2766 and then $1.2729.  
     "Looking ahead, the next support targets will be $1.2690  
 to $1.2627 (61.8 percent of $1.1984-$1.3667),  
 and then $1.2486 (61.8 percent of $1.1756-$1.2486).  
     Micro-term resistance is initially around $1.2843 (61.8  
 percent since $1.2864) and more importantly at $1.2864/68.  
     DOLLAR/SWISS FRANC: "With the correction from 1.2016  
 bottoming well above the 1.1844 (61.8 percent of 1.1737-1.2016)  
 to 1.1835 (reaction low) support area, the bull trend has  
 resumed in full force, with the recent acceleration taking out  
 the pivotal band of resistance from 1.2016 (this week's high)  
 to 1.2021 (61.8 percent of 1.2197-1.1737) to 1.2043 (reaction  
 high). 1.2088 is the only resistance standing in the path of  
 this bull till the short-term high at 1.2197.  
  
 Currency bid prices at 12:57 a.m. EDT (1657 GMT). All data  
 taken from Reuters calculated from the levels at 4:30 p.m. EDT   
  (2030 GMT) in the previous New York session.  
  
                       Last  US Close    %      YTD     2004  
                              05 May.  Change %Change    Close  
 -------------------------------------------------------------  
 Euro/dlr   <EUR=>    1.2837   1.2956   -0.92   -5.32   1.3558  
 Dlr/yen    <JPY=>    104.72   104.45   +0.26   +2.22   102.45  
 Euro/yen   <EURJPY=> 134.51   135.35   -0.62   -3.15   138.88  
 Dlr/swiss  <CHF=>    1.2048   1.1929   +1.00   +5.87   1.1380  
 Stg/dlr    <GBP=>    1.8928   1.9034   -0.56   -1.33   1.9184  
 Dlr/cad    <CAD=>    1.2392   1.2442   -0.40   +3.03   1.2028  
 Aus/dlr    <AUD=>    0.7758   0.7810   -0.67   -0.78   0.7819  
 Euro/swiss <EURCHF=> 1.5471   1.5461   +0.06   +0.03   1.5466  
 Euro/stg   <EURGBP=> 0.6782   0.6804   -0.32   -4.06   0.7069  
  
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