WALL STREET, NEXT WEEK
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WALL STREET, NEXT WEEK: MAY 31, 2004
FINANCIAL ASTROLOGY FOR THE SUCCESSFUL INVESTOR AND TRADER

1. JUNE ASTRODATES
2. JUNE MARKETS
3. UP STARS/DOWN STARS
4. ASTRONUT
5. QUOTES
6. ON THE WEB
7. LETTERS
8. AFUND LETTERS

6/3 3 Full Moon 0.20 AM ET
6/8 Transit of Venus
6/10 Uranus SR
6/17 New Moon 4:27 PM ET
6/29 Uranus SD

2. JUNE PULL BACK, CORRECTION OR MORE BEAR MARKET?   
This weekend’s Saudi tragedy occurred soon after the BEGINNING of our RED ZONE dating of May 27 to June 16.  Whether this signals the beginning of a pullback (up to 10%), correction (10-20%), or another bear market (more than 20%), investors need to stand aside for at least the next two weeks.

NO INFLATION WATCH
A new study AARP finds prices for those brand-name prescription drugs most frequently used by older Americans rose 27.6% over the four year period 2000 to 2003, as compared to a general inflation rate of 10.4%. For how long will the public continue to buy the low CPI sham? Confidence in the U.S. economy fell again as higher gasoline prices was clearly in your face inflation. Money Magazine said their Consumer Comfort index dropped to -16 in the week ended May 23. There is plenty of more room for slippage after more possible terrorist attacks. Then there is also the reality of US economy slowing more than investors acknowledge (May non-farm payrolls report on Friday?). After that, investors can worry about the size and frequencies of Fed rate hikes.

TRADERS: SHORTING IS OUR PREFERED MARKET DIRECTION WITH THE BEST RISK/REWARD.
INVESTORS: DO NOTHING. AS THE IDES OF JUNE COME, IT SHOULD BE CLEARER WHY WE HAVE BEEN RECOMMENDING HIGHER CASH POSITIONS.

KEYDATES:       JUNE 3,4
DJIA:                   9800 FLOOR?
NASDAQ:           2000 RESISTANCE
OIL:                     SELL $44OB

MARKET SENTIMENT IS NOW WORRY AND SOME FEAR, BUT NOT PANIC.
DON’T BUY AND HOLD: BE LIQUID WITH A BALANCED AND DIVERSIFIED PORTFOLIO!
12/31/2003 EOD:    SPX   1111 DJIA 10453 NASDAQ 2003.
FAIR VALUE:        DJIA  < 9800, NASDAQ  <1800, GOLD > 400
While the internal Stock Market astrology, as in 2003, is mixed, the external risk potential is horrific!
If you were unhappy about markets March 2000 and September 2001, don't expect to be singing in the rain JUNE 2004!

3. Investing: How the Short-Sellers Choose Their Targets.  This is something for more experienced investors to think about. Most everyone else is recommended to simply stand aside or sell stock you don’t want to own until at least September.

4. Gum returns to Singapore after 12 years
As many WSNW readers probably know, Singapore outlawed the manufacture, import and sale of chewing gum in 1992 after the country's founding father, Lee Kuan Yew, complained that it was fouling streets, buildings, buses and subway trains. “Gum became a sticking point months ago in Singapore's free trade talks with Washington, when Representative Philip Crane of the U.S. state of Illinois - home of chewing gum giant Wrigley - pressed the issue.” Chewing gum is back, but only if you register by submitting your name and ID card numbers. Unregistered pharmacists who sell gum are subject to two years of jail and fines of 5,000 Singapore dollars (US$2,940). Yet even Singaporeans who have long derided the chewing gum ban, seemed unimpressed by the change. "It's ridiculous that it's easier for 16-year-olds to visit prostitutes than it is to get chewing gum here," said 22-year old college student Fayen Wong.  Alas, rumor has it that street cleaners have already begun complaining.  How should globally savvy investors reaction? First, given Wrigley (WWY) stock is somewhat expensive, this may be good enough good news to sell the stock now.  As for the Singapore Strait Times, while 1700 seems to be relatively strong support, so is 1900 fairly strong overhead resistance. If you have Asian allocation, it will be fair less risky here than in China or Hong Kong. Otherwise, wait for a global correction, and then begin accumulation here, rather than further east.

5. "Now we're seeing people go back to the traditional long-term thinking. Forget the past two months. Where am I going to be in two years? The economy's finally coming back. Why am I selling now?"
Bill Groenveld, head trader, vFinance Investments
HW: I would answer because the next 30 days have MAXIMUM stock market risk, with limited upside, and potentially VERY extensive downside.

"We feel our fortunes in the short term are tied to the short-term price of oil.
Art Hogan, chief market strategist, Jefferies
HW: Rather a sad commentary on global energy and economic policies.

6. Insiders Are Selling Like It's 1999
“Executives sold $14.4 billion worth of stock in the first four months of the year, up from $4 billion in the period last year, according to Thomson Financial. ‘We have been tracking insider sales since 1971, and in the last few months they have never been higher," said David Coleman, editor of Vickers Weekly Insider Report. ‘….FEW executives have increased their holdings over the last year by buying shares with their own money, as opposed to receiving new grants from their boards.”

Market Watch: Will the Fed's Slow-Mo Approach Backfire?
"It seems as though Mr. Greenspan thinks there is nothing that printing money won't solve," Mr. Kasriel said. "If printing money created real wealth, then Zimbabwe would be one of the richest countries on the face of the earth. My thesis is we have really not paid the price for the excesses of the late 1990's."

Gold-oil ratio out of whack

7. READER: Apparently Crawford is very negative for markets as you are, but he is more bearish for August and Sept/ time frame, than in June 04.
HW: Let’s see how June goes first. I have a different view for September.

8. HERE WE TALK ABOUT AFUND CLIENTS

READER: RE: I certainly understand your doubts.  I would not be surprised by if there were delays, but I [still] have very few doubts. PS about ready for a little IHI bottom fishing soon,,,,, fyi.
It has been a bottom fishing [in IHITF}for a very long time now and the bottom will be there for a least another few weeks if not another few months, years?   No rush.  You may have few doubts but I think you will agree that is not the consensus of opinion or even the majority of opinion and may be an opinion of less than 5%. 
HW: True but do they know as much as the company and its potential as I do? As to whether weeks or months or years, I can’t say for sure. I do believe June is a perfect time to average down.

READER: There are a lot of shares [IHI-V] at ask, seems like market is not so empty after all. Definitely getting the feeling that some people know more than ordinary shareholders. Still not convinced it is time to buy more until real profits are made.
HW: I think not.  Either you believe in the IHI story and GREAT promise, or you don’t. If you do, you are slowing accumulating. If you don’t, you are slowing exiting.  You know my view and recommended course of action.

READER: You still show Gallery as a client on the Mining webpage.  Are you still recommending Gallery as a buy even though it is no longer a client of yours?
HW: The particular post you are referring to was dated January 19, 2004.  As of that date, Gallery was a client.  I still am holding my stock in Gallery as I like the gold sector in general. Should nothing positive and new happen by August to early Fall, I may recommend selling. Remember most of microcap gold exploration companies’ stock movement happens with manic interest in gold, i.e. when it is not only over $400, but looks like it is going above $430.

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Author: INVESTING BY THE STARS, THE STUDY OF ASTROLOGY,TRADING BY THE STARS (01)
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