© Henry Weingarten Last Updated:

Most of the following material has been serialized in our newsletter WALL STREET, NEXT WEEK and our premium channels .              It will be updated publicly at our 10th Annual  Astrology and Stock Market Seminar   May 17-19, 2002 in New York  City.
Note:Hyper links that are prefaced with a S:, G: or P: arerestricted to WSNW Subscribers.                                                     

There are five primary celestial and terrestial phenomena affecting world events and global markets in 2002:

• The Third and lastof Saturn Pluto oppositions on May 26, 2002.
  
• E-DAY: January 1, 2002, Euro Currency Launch.
• QQQ December 2001 and May 31, 2002 MSCI, index changes.
• The first of three Jupiter Neptune oppositions September11 [and Feb 16 and June 3 2003].
• December 4th TotalSolar Eclipse .
  

Three Big Investing Ideas

1. DOLLAR  DECLINE ACCELERATING IN  2002/3     
The long term secular US$ rally is over, having topped with three peaks, one in May 2000, one 6 months later and finally June 2001. If  you liked  $10 Oil, you will love the Euro .88-.90!  We expect to see .93-1.01 over 18 months.        

2. SATURN/PLUTO ENDS 2002
Our forecast for a global economic slowdown and fears of recession were well founded. However, our WSNW Mantra since 911 has been: "There is now light at the end of the tunnel as this aspect ends May 2002."
As for 911 , one of its effects was Saturn (sense of security) in opposition (opposed by) Pluto (Terrorism).  


3. JUPITER/NEPTUNE THEME: PREPARE TO PROSPER 2002/2003
Let the good time roll and will it be back to "What ME worry?" The curent trend of more realistic stock valuation that began with Jupiter/Saturn conjunction in 2000 MAY become lost with this new zeitgeist shift.

Two short term positives for the markets are the longer term effects of  lower US interest rates (Don't Fight the Fed) and the post 911  spending programs. There is a well known tendency of markets to "climb the wall of worry" and we expect plenty of this (worry) coming up.  The cup is only half full as global economies deal with unemployment and additional bankruptcies follow through.

Capital Preservation will no longer be as important  for global investors after early 2002. It will instead go back to the future or time forgrowth. Then we expect a change in leadership away from Value and back to Growth. However, we advise caution and recommend an investmentstrategy paradigm of  BUY and HOLD Growth stocks withat least  reasonable valuation based on current and future profits.  Remember,  international money flows will no longer exclusively favor the US, with Asia and Europe garnering future global   interest.           

VALUE WITH GROWTH

While we expect some to hope for a return to the "good ole days", we are not likely to see P/E of 100+ for many TMT stocks. Our advice is thesame as for 2001:
Trade more (25% of  portfolio) and take/protect profits at 15%-25% profit points for non-core long term holdings.                

INVESTORS SHOULD BUY AND HOLD STOCKS WINTER/SPRING 2002 THAT ARE:
1) Profitable companies,
2) P/E under 20 TMT (Technology, Media, Telecommunications); less than 16-18 for others,          
3) Undervalued by 10% or more.

The Horoscope is a MAP of TIME and PLACE - here is a brief overview of selected global markets:

EUROPE - Relative strength gains in Euroland & Euro into 2002         

• GERMANY-  Blue Chips [EWG] outperform. 
• HOLLAND - will benefit from the Euro rally. However, we suggest some selling into strength as better global opportunities arise.
• ENGLAND - Our view of the CITY continues to change for the better in 2002and beyond.
• GREECE- The ATG is a long term watch/accumulation ahead of the 2004 Olympics.
• ITALY - Prime Minister Berlusconi may become good for business.  We are watching.
  
• EU EXPANSION countries, the Czech Republic, Poland, Hungary, Cyprus, Slovenia and Estonia remain on Watch.
  
Note: WSNW subscribers should review our favorite S: Dow Jones Stoxx 50 stocks.             

NORTH AMERICA - Traders paradise

• S: CANADA - Invest here for increasing prosperity in 2002 and 2003! The Canadian Dollar is a great bargain and will  outperform the US Dollar in 2002-2003, as will manyCanadian stocks. Quality midcaps are obvious US M&A targets.
• MEXICO -  While certain international stocks e.g. CX, have periodically performed well and continue to benefit from NAFTA, we preferto wait until closer to the end of the US economic slowdownin mid 2002. Unless a stock is likely to be a takeover targetlike Banacci was by Citibank, YANQUIS STAY HOME! 
• UNITED STATES - Slightly overvalued versus global counterparts. We will buy select undervalued and Dow Dogs midyear as trading buys. However, we think many former investor favorites will disappoint. US  Bonds will be even less attractive as the year goes on. The US Dollar remains a ticking time bomb: It is no longer as safe a haven with new competition forthcoming from the EURO in 2002 and  perhaps even gold. However, since one can trade stocks here for 10-25% appreciation/depreciation a day/week, this remains TRADERS HEAVEN.

• JAPAN - We were delighted when our five  year wait for Japan to break 12,222 was over last year. We were then surprised to see it break 10,000!  Nikkei is now a long term buy to16,000 using the 2003-5 time horizon. We see value in buying Japan whenever the Yen is weaker than 126 [Fair value ~122]. Naturally, we prefer exporters that will benefit from cheap Yen, e.g.  Sony (SNE),  Matsushita  (MC) and Honda (HMC) are our three favorites. Energy efficiency along with the cheap Yen will keep Honda (HMC) and Toyota (TM) strong global leaders withstrong  profits. JAPAN INC  may become one of our favorite 2003 countries, especially if the Yen weakens to 130 and more. Our  mantra on JAPAN INC. is  "You have Japaneseproducts in your home;  why don't  you  have Japanese stocks   in yourportfolio?"
• HONG KONG/CHINA -  2008 Olympics notwithstanding, the fact is that many of the mainland's industries are amess. While China's horoscopes are no longer as  "challenged" as in 2001, we continue to recommend caution. Like other Asian economies, Hong Kong is unlikely to be buoyed by surging US exports.Still, it is worth considering if it retreats under 9800 again.  Despite a far better economy,  we also remain reluctant to investin Taiwanese markets. Note, Hong Kong, along with Singapore andMalaysia, will loseout from MSCI changes, as most of the top 20 companies in  these countries have less than 50% float.  Conversely,  Taiwan may benefit, but not enough to compensate for potential  "war like" conditions in the future.
• KOREA- Buy select, non-bankrupt, companies such as Samsung  Electronics (SSNGF).  A MAJOR peace dividend is expected  in late 2002/2003.
• INDIA - The most money is still to be made by insiders as recent corruption scandals attest. However, for long term investors we are now recommending some computer, telecom and pharmecuticals bargains.
• AUSTRALIA - We are mildly bullish for 2002/3, e.g. BHP due to immiment Aussie dollar appreciation.
• NEW ZEALAND- Unless you wish to retire in this lovely country, continue to slowly distribute NZ 40 2200 OB if you are there in size.
  

OTHER- Opportunities for savvy investors ONLY .

• ISRAEL - Israel's technology sector is desirable given its highly skilled labor force and favorable tax treatment. However, it is often overvalued and bargains are hard to find.  Unfortunately, it is best to buy only when there is blood in the streets, which was all too often in 2001.  Buy export quality with the TA 100 Index under 400.
• RUSSIA - It is now time given the possibility of rule of law for some of the better high risk/high reward opportunities here.
• BRAZIL - With crisis, comes opportunity, especially for quality exporters, thanks to the cheap Reais currency. As with most of South America, accumulate on weakness only for appropriate multi-year long terminvestment portfolios.
• ARGENTINA- A 2002 short term trading opportunity for smart money.
  

We continue to recommend avoiding most emerging markets at least until Spring 2002.
Later in 2002, the global investing landscape  may be dramatically different. WSNW subscribers should periodically review our
S: AFUND GLOBAL 12 - for our favorite global blue chip long term investments.

Despite the fact that we do live in interesting times, short term we repeat last year's mantra:
BORING IS GOOD and VALUE plus GROWTH IS BEST and Trade for short term profit 15-25% moves.
Old-line technology companies such as  Boeing (BA)  IBM,  Rockwell (ROK), Hitachi  (HIT) and United Technologies     (UTX) will be safer heavens than utilities, and generally outperform.                
  

• While bankruptcy attorneys and mortgage refinancing lenders will remain in clover, look to companies that will benefit from an improving economy in Q3 2002, rather than the current tough economic conditons.                                       
• OPEC  withheld supply due to Oil "glut" from reduced demand as we forecast. But this will change midyear as security and defense move off center stage. Halleluiah!

• We WILL have a continuing economic slowdown, but nota further decline until the Spring.  Thereafter, we expect GDPgrowth to resume to over 2%.  If there is an official recession,it is because the government statistics did not properly allow for 3Q2001 decline. If so, we will out of "recession" in 2Q 2002.  However,public enthusiasm to spend, spend, spend will be subdued in Q1 2002 untiljob uncertainty is removed.
• Our GDP forecasts for 2002  follow:

INTERMEDIATE TERM

LONGER TERM

This is followed  by one pass of  Jupiter/Uranus in August of  2003, by which time electronic companies e.g. MC,  SNE, Samsung and PHG will be in heaven thanks to mass  HDTV.   Also around this time, interactive TV and Video on demand will become widespread, obviously helping AOL and MSFT, but others as well (tba).  However, we will also see in 2003 Saturn activating the US Sun.

December 2007: Jupiter will be conjunct  Pluto. The low point of the nodal cycle is reached 2008.  This will be followed         by Jupiter conjunct Neptune in 2009 and Jupiter conjunct Uranus in 2010.

• Aerospace 
  
• Defense/Safety*
• Education
• Entertainment
  
• Exploration and Successor Energy
  
• Finance
  
• Gold
  
• BioTechnology and Pharmeuticals
• Water
  
• Leisure & Travel (2nd half 2002)
• Media (2nd half 2002)

• Our four favorite aerospace companies are EADS, BA. UTX and Bombadier (BBD.A-TO).
  
• * A clear money manager favorite, but our SRI leanings did not incline us to buy this sector for clients. This Saturn/Pluto theme may still be played with stocks ranging from Checkpoint (CKP) retail anti-theft to Internet security RSA  Security (RSAS) and Checkpoint Software (CHKP) to LoJak (LOJN). Non-SRImanagers can continue to play this theme with BF Goodrich (GR), ITT andRockwell (ROK).
•  IfBush is "the education" president, this sector will out perform. We arehopeful.
• Jupiter entering Leo August 1, 2002 should help the entertainment sector.  Obviously, this includes a large variety of stocks.  Electronic Games suchas Activision (ATVI), THQ (THQI) is one way. The big four electronicscompanies, PHG, MC Samsung, Sony are another. Select Media stocks areyet another 
• Select Diversified Energy companies such as BP and Norsk  Hydro  (NHY). Danish windmill manufacturers, Vestas Wind   Energy Systems (VWSYF) and NEG  Micon (NEGMF), especially in 2003, and solar Astropower (APWR) will offer more than 30% growth  annually.  Similarly, Japanese companies such as Sharp and KYO are partial plays of  the solar sector.  Fuel Cell  companies should be watched  even though they will not be profitable ventures until 2004.  We also continue to look for  opportunities to  trading buy older energytechnology companies after big dips, such as Sun, VLO, Parker Drilling(PKD), Sucor   (SU), BP, MIR and  RD.
• While a lot of banks, finance and insurance companies willsuffer from extensive personal and corporate loan defaulting, others withwell managed risk portfolios will outperform due to plentiful cheap moneyfrom the 2002 bottom on.  Favorites include Citibank (C), American Express(AXP), Prudential (PRU) and Metlife (Met).  
  
• We increasingly find GOLD attractive in 2002 and expect to see it $310-$325. It is also a good patriotric US dollar hedge. We recommend PDG short term and ABX or NEM as longer term for core holds in conservative portfolios.
• We will give non-subscribers our list of favorite biotechs and drug stocks in our Midyear update.
  
• The number three beverage and fastest growing at 7% a year is Water. Big   Euro food groups, Dannone [DA] and Nestle [NSRGY], own the largest brands and  remain conservatively profitable.However niche players like Vermont Pure (VPS)and microcap ICBG are also worth watching and drinking.
• WSNW subscribers please view S: Travel .
  
• Platinum WSNW subscribers pleaseview P: Media
  

I like to begin with one or more of the following 3 criteria:

     1) Jupiter in Leo
     2) Jupiter Opposite Neptune (2002/3)

Please note our current favorite trading strategy has been buying pre and post news pops due to companies slightly outperforming repeated earnings downgrades. This Winter/Spring our favorite Investingstrategy will be buying quality undervalued stocks that have just fallen out of bed, e.g. DYN, HAL on bad news/sector association-our old fallen angel strategy.

BUYING FOR THE LONG TERM (May 2002 on) a 2/3 or 3/3 mixture of
1)  BUYING CASH RICH LEADERS  
2)  UNDERVALUED AND UNLOVED
3)  ASTROLOGICALLY  FAVORED STOCKS AND SECTORS        

1.  Give expected drop in USdollar of 2-6%, select Country I-Shares or Webs) or Foreign Blue Chipscompanies:

• Netherlands (EWN) : Euro strength Unilever (UL), Philips (PHG), Royal Dutch (RD) and Ahold (AHO).
• Germany (EWG) : Euro strength - Deutsche Telecom (DT), Deutsche Bank (DTBKY) and Bertelsmann                          (BTGGga.DE), SIEMENS (SI)and BASF (BF).
• Japan(EWJ): Yen weakness - Fujistu (FJTSY), Kyocera (KYO), Matsushita (MC), Sony (SNE) and Honda (HMC)
• CANADA (EWJ): $CD strength - Inco (N), Placer Dome (PDG), Sucor (SU), Celestica (CLS), and Sun Life (SLC).
• United Kingdom [EWU] : BP Amoco (BP), Cable and Wireless (CWP), Elan (ELN), GlaxoSmithKline (GSK), Pearson (PRSNY) and Vodafone [VOD].  
• S: AFUND GLOBAL 12                              

3. S: DJIA FAVORITE 2001 stock, i.e.hold/buy on an intermediate-long term on a relative basis was IBM. We bought and sold it twice in 2001. It  will be so again in 2003, so we plan on buying again on any serious weakness. We expect continued modest consolidation and performance  of  Dow Stocks and Diamond  Index (DIA) for most of 2002. Onceagain, most Blue Chip stocks will still have  to   be traded,  not "buy and  held" for much better than single digit returns in 2002. Two possible exceptions are Dupont (DD) and InternationalPaper (IP).  On weakness, we may also buy American Express (AXP), Boeing(BA), Citigroup (C), General Electric (GE)  and United Technology (UTX) if markets correct downward dramatically once again early 2002.                 

• Microsoft (MSFT) while a cash machine is both over valued and poorly managed. Negatives include the lack of exciting new products.  We advise selling on strong rallies.
• Disney will benefit from Jupiter in Leo.  It isa buy under 18 this Spring.
• Johnson and Johnson continues to be rated an outperform.However, unlike GE is has yet to retreat to a semblance of cosmic value.Until then, we continue to admire it from afar.
  

APPLIED  ROBOTICS: e.g. Int. Hi-Tech Industries (IHITF)* , Robotic Vision (ROBV) and FANUC.  
BIOTECHNOLOGY: e.g  Celsion (CLN),  Imclone Systems (IMCL) and Trimerius (TRMS).               
SUCCESSOR ENERGY: e.g. Astropower (APWR) Nuvera (IPO: NVRA) and ???   

*6. AFUND CLIENTS
Business Astrologers know that the best way to predict the future is to create it.
With strong Disclaimers   and with an obviously biased view, I am  doing my best to help create investor wealth for client companies we now consult for, e.g. International High Tech Industries [IHITF]