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Whether the SnP? Market Thoughts
phoebe - Sun, May 4, 2003 - 11:34 PM
In the middle of this past March, the SnP started up and the Dollar down aga the EURO. Thus ending what had been a fairly good correlation.
I think one can therefore conclude that the buying in the Snp ,has, of late , been largely domestic and Europeans have probably been selling on balance.
Thus if the $ were to turn up, and consequently Europeans start buying the Snp that could be very bad for the bear. And maybe a last reasonable hope for the bull.
So for the FED--the same old dilema wuold seem to have reached its nth degree.
If they were to cut---I don't think the $ has a chance---probably not in any case. Don't thnk they have a chance.
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