1. AUGUST ASTRODATES
2. AUGUST MARKETS
3. REPUBLICAN GAMING
4. THIS AND THAT
5. QUOTES
6. LETTERS
1. 8/15 Full Moon 1:13 AM
8/20 Pluto SD
8/22 Sun enters Virgo 3:49 PM
8/29 New Moon 6:19 AM
2. Greenspan states the US economy would be at risk if the supply demand
gap doesn't close. Well, Duh!
Until August 22, US markets should remain within its summer
trading range. After the FOMC meeting, expect either a brief rally then
a fall, or just a continuous decline into a test of the 2000 lows.
Either way, star indications have changed since the May 2000 Jupiter/Saturn
conjunction in Taurus and so has/will the market. Do not be surprised as
more aggressive growth tech portfolios continue to be NOK-ed.
On March 10, NASDAQ topped above 5100 when transiting Uranus was conjunct the NASDAQ Sun. It bottomed on May 26, just before the conjunction of Jupiter and Saturn. Now Uranus is heading back to its second conjunction with the NASDAQ Sun [partile August 2]. Get the (cosmic) picture?
No Inflation? Philip Morris is raising cigarette prices again- 3% this time. I also note my local 88 cent store just went out of business and was replaced by THE CLOSEOUT CONNECTION offering merchandise ranging from 2.99 to 9.99! The BLS might not report this as evidence of inflation because of "extra value". They are offering a free gift: an elegant brass shoehorn. So whom should I believe? The BLS or the evidence in front of my face?
We are so proud of our call for Canada to top last week that it may be added to my biography. Assuming last week's top sticks (and we believe it will), the TSE closed Friday at 10342 and down 600+ from Wednesday. Naturally clients (as well as I hope WSNW readers who were given plenty of advance warning) who sold JDSU and NT are happy campers, both north and south of the border.
Speaking of Canada, I will be visiting Vancouver in two weeks. First and foremost to visit International Hi-Tech Industries and to help celebrate on IHI DAY. I will also be visiting my two other Canadian client companies, Stox.com (V.URL) and Cancall Cellular Communications (O.CCCA).*
KEY DATES:
July 31, August 2
MARKET PIVOTS: DJIA 10577; NASDAQ 3816
XOI:
Under 4705 accumulate energy stocks
3. The Republican National Convention delegates will experience the thrills and excitement of Atlantic City with a roll of the dice on what is believed to be the world's largest craps table Wednesday, August 2, 11:30 a.m. Professional dealers will give the delegates tips on how to play the game. They can step up and try their luck with a roll of the oversized dice on the 21-ft.-by-8-ft. craps table. Players will roll for the chance to win commemorative prizes such as Atlantic City salt water taffy, peanuts and milk chocolate color foiled coins. I believe this may be seed preparation for the establishment of a National lottery!
The US oil industry found its dream team with Republican presidential
candidate George W. Bush's pick of Dick Cheney as his vice presidential
running mate. Obviously, it is prudent to hedge this possibility
by accumulation Energy stocks. Trading or investing intermediate term in
beaten up stocks like Sunoco (Sun) are almost a no-brainer.
Details in our forthcoming Fall Investing by the Stars.
4. "The best Democratic economic policy is one that will let more people
live like Republicans" Treasury Secretary Lawrence Summers quip
HW: Ralph
Nader: we NEED you!
"This idea that the Fed is done with tightening is premature because
the economy has more momentum than people think."
William Dudley, chief US economist, Goldman Sachs
HW: "True, except for investors "in the know", i.e. with "cosmic
guidance."
"Put a price on all the tea in China, or the
fabled gold of El Dorado, and you'll not be far off the valuation measures
investors are giving to fiber optics equipment, the object of the latest
stock market buying binge."
Eric Auchard, Reuters
HW: Guess we were smart to sell JDSU last
week!
"Under the current situation, it would not be surprising if the
yen was traded at 110 yen or 111 yen per dollar.''
Sakuma, Barclays Bank
HW: We covered 1/3 of our shorts at 109.50 and will cover another
1/3 at your numbers. Japanese bankruptcies rose more than 20 percent in
June from a year earlier, the eighth-straight increase. More companies
are expected to fail in coming months - Yen bulls beware!
5. Lucent is approaching 42 or 50% of its 2000 high and therefore is
a potential buy for market bulls.
Our support numbers are S1: 46, S2: 42, S3: 40 and note
36 is its Morningstar business
appraisal value)
AT&T second-quarter profits rose to nearly $1.9 billion, beating Wall Street expectations, but in line with our astrological expectations. We reiterate our intermediate term buy (doubling up at 29 if reached) with a 2001 price target of 42-45. Still, this company is not being well run and their board would not be remiss to replace their astrologer as well as upper management.
A Low-Risk Bet That Xerox Will Spring Back "Buying LEAPS, essentially long-term options, may be a low-risk, high-reward way to invest in beleaguered stocks." This article suggests Microsoft Leaps may be a better play than Xerox. But might not buy ATT (T) or Computer Associates (CA) Leaps be even better?
6. READER: Do you use the declination positions of the
planets for the market? Do you use or know anyone who uses Magi Astrology
for the market?
HW: At times, probably not as often as I should. I know
one BIG trader who uses Magi Astrology who claims great success.
READER: I noticed AFTI surged 33% at days end today and 66% at
one point. Do you have any thoughts on buying now based on the news?
What is your current value buy on this stock? - I didn't see its value
listed on up/down stars or anywhere else on your site.
HW: We are waiting to see how their beta tests go before issuing
a new report as we were burned once in this stock. However, management
IS very dedicated and I have heard their product is first rate. AFTI
stock looks like it wants to test (heavy?) resistance at $1.10
READER: Who is/are the Gentleman or Woman providing first trade
stock, or other financial markets instrument?
HW: The two people are Michael
Munkassey and Carol Mull.
READER: How long do you hold gold as a protection when it seems
unable to sustain movement upward?
HW: We are planning to hold Gold as a hedge until December
2001. If still dead by then, (unlikely), we say bye bye in 2002.
READER: Do you know what is driving the volume/price of IHI the
last few days?
HW: No. I presume since we are finally closer to production
this fall, more investors are realizing that IHITF is a very, very undervalued
high risk speculation and they want to join in.
READER: Are we in technical short territory yet on Nasdaq?
HW: Yes, as long as it is below its pivot (3816). Be careful
Wednesday and Friday, as both are news days. Still, stocks like JDSU and
NT aren't likely to see last week's prices for quite some time, while many
others have far to fall before the Fall.
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