WALL STREET, NEXT WEEK

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WALL STREET, NEXT WEEK: DECEMBER 1, 2003
FINANCIAL ASTROLOGY FOR THE SUCCESSFUL INVESTOR AND TRADER

1. DECEMBER MARKET PULSE
2. UP STARS/DOWN STARS
3. ASTRONUT
4. QUOTES
5. ON THE WEB
6. IM OF THE WEEK
7. LETTERS
8. AFUND LETTERS

ATTENTION KMART SHOPPERS: 70% DISCOUNTS ON JEWELRY AND SHOES
The critical holiday shopping season has begun bringing joy to warehouse clubs and discounters. Bargain Shoppers are buying holiday specials such as Wal-Mart’s $29.87 Apex compact disc/DVD players. This important measure of US economic health, how much consumers will spend on Christmas, is the capitalistic measure of holiday spirit. We believe most employers will be very Scrooge-like in giving Christmas bonuses. This will leave workers without much extra cash this festive season. Are “shop till you drop” days history like the Internet Mania? “Cautious optimism” is the watchword of the day.  But wait -Internut stocks are alive and well, and we also see a gold mania beginning, with Biotechs also ready again in the wings….

IS THE US DOLLAR WORTH THE PAPER IT IS PRINTED ON?
Treasury prices fell Wednesday after an auction of new U.S. government debt drew much less demand than many had hoped for. Not just the Smart Money now realizes the risk of holding US dollar assets ahead of a potentially large and overdue adjustment.  While the US economy is growing faster than its G7 counterparts, thanks in large part to its military-industrial complex, don’t forget Saturn is in Cancer, the birth sign of America. While currently near our latest fair value price of 90.21, in future, the US$ could be much lower to compensate for its structural debt problems and low interest rate differential.

“Traders don't feel comfortable sleeping at night with a big long dollar position,'' said Shahab Jalinoos, a currency strategist at ABN Amro Holding NV in London. I know I don’t. Smart money players Warren Buffett and George Soros are making huge bets the dollar will continue its slide to new lows all next year.  Unless you are willing to fight both Warren and George, up to 50% of new investments in H1 2004 should be in non-US securities: If the US markets rise, Japan and Europe will out perform; If US markets drop (especially if due to US dollar concerns), they may fall less.

If trading by corporate executives and directors is any indication, the stock market’s bullish run is about to end. In October, 77% of all insider trades at the more than 2,500 companies tracked by Market Profile Theorems Inc. were sales. Last week "Strong" economic data failed to produce a significant market rally. Perhaps you can’t fool all of the people all of the time?
THE NEW MARKET MARKER SENTIMENT: The "Good" News is known and already built it in. The result is Mild Profit Taking & Weak Buying.

READY TO PLAN 2004?
It may be time to pick up an astrological calendar or business planner at our bookstore.

KEYDATES:       December 1
DJIA:                   9800 Pivot
NASDAQ:          1850 Support 1960 Pivot 2000 Resistance
MEXICO:           DISTRIBUTE IPC/ACCUMULATE PESO 85-86

DON’T BUY AND HOLD. THE STOCK MARKET IS ON BORROWED TIME. ELIMINATE MARGIN DEBT, BE HIGHLY LIQUID, AND KEEP A BALANCED AND DIVERSIFIED PORTFOLIO!    Gold FV 379
DIJA FV 8200            2 DJ Stocks offer 5%+ Dividends; 4 offer 4%+.     
Trading targets:            SPX   967 DJIA 9100 NASDAQ 1710.
12/31/2002 EOD:        SPX   879 DJIA 8341 NASDAQ 1335.

2. General Electric (GE) says it expects only a modest profit increase next year, but sees a return to double-digit growth in 2005. GE shares are fairly valued for the market with a 20 P/e and 2.65% yield.  But is this a bargain? No. Will it out perform? No. Is it a Hold? That depends on how much you wish to hold US assets into Q1 2004. If so, Yes; if not, No.
WSNW subscribers may wish to visit our newly updated S: DJIA premium post.
 
3. Matchmaker.com latest single survey suggest retailers shouldn’t rely on American singles to dole out serous dough for someone they are casually seeing. 84% feel that under $50 is appropriate amount of money to spend on a gift for someone they recently started dating.  Surprisingly, (to them) the older singles get, the more penny-pinching they become. The older singles are more likely to feel spending $25 or less on gifts is acceptable. Not only are Americans aging, but far more consumers say they will restrain their holiday spending this year than last year, according to the fourth annual survey sponsored by the Consumer Federation of America (CFA) and the Credit Union National Association (CUNA). Long term will this affect Tiffany (TIF) earnings? No. Short term? Maybe. We rate TIF an intermediate term buy ahead of Jupiter’s move in Libra later next year.

4. "From a short-term standpoint, our work suggests that further market weakness is likely before a sustained market advance occurs." Paul Desmond, president, Lowry’s Reports
HW: I agree it is (past) time for some market weakness.

“The real question is: Will the tax cuts flow through to employment growth and capital spending? I think the jury’s out. We’ll know in six months.” Goldman Sachs economist Dudley
HW: I plan to add to my shorts April 16th.

“Barring an exogenous shock, we're going to continue to look to the economic data to get a sense as to whether this is going to be a sustainable economic rally in 2004 or a one-quarter, tax-induced head fake."
Richard Nash, chief market strategist, Victory Capital Management
HW: I am dubious that all the new Mcjobs being created will support a sustainable economy rally.

5. Gold's slow rush at $400
“"[H]e said that almost all traders on the floor including him believe the Fed has been periodically intervening to cap the rallies in gold... to not allow gold to spook the bond market and the dollar... The last thing he said was that he thinks $500 gold within the next 6 months is 'a done deal.'"

Dollar decline raises new concern for US
“So far, the dollar has retraced about a third of its rise in value since 1995. Goldman Sachs figures the dollar needs to fall another 20 percent to restore the trade imbalance to a sustainable level.”

Time Out! Looks like “bargain-hunting season” is cancelled this year
“The strength we’re seeing in recent months actually a sign of positive divergence, indicating an explosive first quarter of 2004 to come? Or is it “robbing from” strength in the first quarter?”

6. HW: There are plenty of bulls.
R: Not surprised about the bulls-I read that the day after thanksgiving is historically up 70% of the time.
HW: Well history means less today. Did September and October go down?
R: Nope, not at all. Point well taken.

6. READER: I'm a Malaysian and interested to know further regarding your product and how you can help me in Malaysian market?
HW: We don’t currently specifically cover the Malaysian or Singapore Markets.  We do cover Japan and the US and these have a large influence on your local market.  Should you desire specific local coverage, our fee is $25,000 to cover our initial research costs, and $10,000 annually thereafter.  If you do not require more than general US coverage (which is the MAJOR influence in world markets), it is $360 per year for weekly Wall Street, Next Week, $1500 for our daily market commentary and $10,000 per year for money managers desiring more specific global advice.  Thank you.

7. HERE WE TALK ABOUT AFUND CLIENTS
READER: Just a note to let you know I don't feel any relief based on psychic in your office reading.  Readings come from the astral plane, where there is a lot of jibberish - and when they are on target, any person's will can change the outcome of the future as predicted.  You continue to promise more elaboration - like you did last week in your Wall Street Next Week, and there is nothing there this week.  Like your reader, I wish I had that money available to invest in gold or small caps.
HW: Any prediction, whether psychic, astrological or derived from purely mathematical models is naturally subject to change. I mentioned it simply because it is one of many factors why I continue to strongly believe in this company’s future.  As for elaboration, it will be forthcoming in December after their next monthly progress report. It will include discussion of three possible IHI futures for 2004: one with progress at the current painfully slow rate (unlikely), one somewhat accelerated model for early 2004 (more likely) and the third, the after effects of a major order.


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PAST WALL STREET NEXT WEEK REPORTS
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(c) 2003 All rights  reserved.  The Astrologers Fund  "Always a Stellar Performance"
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Author: INVESTING BY THE STARS, THE STUDY OF ASTROLOGY,TRADING BY THE STARS (01)
May 14-17, 2004 Eleventh Astrology & Stock MarketConference   NYC
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