Wall Street Next Week JUNE 21, 2004

WALL STREET, NEXT WEEK
Financial Astrology for successful investors and traders"

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WALL STREET, NEXT WEEK: JUNE 21, 2004
FINANCIAL ASTROLOGY FOR THE SUCCESSFUL INVESTOR AND TRADER

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

ITS ONLY MONEY

·   U.S. April Trade Deficit Widens to a Record $48.3 Billion.
·   World military spending close to $1 trillion in 2003.
·   U.S. May Producer Prices Rise 0.8%; Core Rate Rises 0.3%.
·   U.S. First-Quarter Current Account Deficit Widens to Record $144.9 Billion.
·   "One new worry that has appeared on the scene is that investors now think Fed policy won't be back to 'neutral' until Fed Funds is back at three percent," said Merrill Lynch strategists.
·   The New York Stock Exchange last sale of a regular seat sold for $1.51 million, down $5,000 from the prior sale on June 2. NYSE seat prices are correlated with the health of the market and the economy. Technically, this could be a short term top.

RISK VS. REWARD

· This month a poll of equity analysts in North America, Europe and Asia forecast that major stock indices would end 2004 between three and 15 percent above current levels, with the S&P 500 benchmark rising by around four percent.
· Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., believes that the outlook for the global economy is uncertain for the next 20 and 30 years. “Too much debt, geopolitical risk and several bubbles have created a very unstable environment which can turn any minute.''

I agree wholeheartedly with Bill and given a possible 4% rise in the stock market vs. a possible 5%-20%+ drop, I continue to recommend extremely high cash levels at least until July 11, 2004, and continued caution until just before Labor Day.

TRADERS: Trader’s delight to June 30.
INVESTORS: Market remains on Yellow alert until July 11, 2004.

KEY DATES:       JUNE 29, 30
DJIA:                   10400 Pivot
NASDAQ:           1992 Pivot; 2000 Ceiling?
US$:                    Accelerate Distribution

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 > 408
While the internal Stock Market astrology, as in 2003, is mixed, the external risk potential is horrific!
Short term, if you were unhappy about markets March 2000 and September 2001, don't expect to be singing in the rain JUNE 2004! BEFORE JULY 11TH, INVESTORS MAY UNDERSTAND WHY WE HAVE BEEN RECOMMENDING EXTREMELY HIGH CASH POSITIONS.

2. CANADA FOR SALE
Resource-rich Canada seems to be for sale with the afterglow of Noranda (NRD-T) and a possible Cisco alliance-merger of Nortel (NT) with Cisco. But this is only the beginning. Fall 2004 on, government permitting, many Canadian companies will be subject to intense M&A activity. We expect to see the C$ back well above $.75 and perhaps as high as .80 in 2005. Hence, later this Summer, this will once again be our favorite investing as well as tourist G-7 country.
WSNW subscribers should periodically visit our recently updated AFUND S: 2004 CANADA 20 post.

3. The world's first stock market-listed brothel, Australia's Daily Planet (DLYPF) is changing its strategic direction. “Whilst the Daily Planet brand was a great launch platform for us, we've had a lot of resistance from shareholders and advisers because of the perception that we're in the prostitution business," said chief executive Andrew Harris. The perceptions were costing the company growth opportunities, he added. Now the company will focus on strip clubs, which, he believes has a more respectable image. It will sell the property housing the brothel in suburban Melbourne, as well as another building in the city, and concentrate its efforts on Showgirls Bar. He said there would be no further investment in brothels or related properties. "We believe there's far more profits for our shareholders in Showgirls," he added. I believe that the Australian dollar will zoom upwards this summer. Because of this, many short term investments down under, including bank CD’s, will outperform on a global basis. Unfortunately, I cannot comment on the merits of buying DLYPF. For some reason my wife has been blocking me from making an intensive due diligence investigation on it!

4. “June is very `wait-and-see-ish, Folks are going to look quite anxiously toward the 30th.''
Michael Weiner, comanager, Banc One Investment Advisors Corp.'s Diversified Strategies Group
HW: Waiting for Godot, darkest before the dawn, or?

"The main driver that we would see pushing markets higher is corporate earnings growth. The headwinds to the markets, the factors preventing them going up any further will be interest rate rises in the U.S. and continued nervousness about a range of factors: the Middle East situation, oil prices, the ability of the Chinese authorities to slow their economy down."
Tony Dolphin, Henderson Global Investors
HW: Well a mixed bag then; more traders delight.

"The benign pace of rates the market has discounted may not be the case now. That doesn't really make stocks look attractive. There's no real reason to go out and sell everything you own, but no real catalyst to buy, either."
Russ Koesterich, U.S. equity strategist, State Street
HW: As long as you don’t mind a horrific external risk.

5. China rate fears, oil prices - or maybe Venus?

Is the Summer Rally a myth?

Will the Fed raise interest rates just once, like in 1997?

6. READER: Now we will see what June has to say. Lets hope for the best.
HW: Yes.

7. HERE WE TALK ABOUT AFUND CLIENTS

READER: According to your website the place of incorporation for IHI is Vancouver. Is incorporation in Vancouver similar to something like incorporation of a U.S. company in the State of Delaware?
HW: Actually it was a federal incorporation in Ottawa, but I relocated it back to HQ location. To avoid confusion, I have revised IHI Horoscopes to list Ottawa.

READER: What is your latest immediate prediction for IHI?
The usual: 1) IHITF stock is undervalued. 2) The company is READY to take off. 3) That can happen ANY TIME now.
Bottom line: We recommend continued accumulation in JUNE ahead of the Company’s AGM.
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PAST WALL STREET NEXT WEEK REPORTS
FRIDAY 11 am listen to our Internet radio program TRADING BY THE STARS. (c) 2004 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)
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IHI has been an AFUND client since 1994 and is currently paying monthly $2,500 consulting fees and $500 for banner ads on our website. May 15, 2002, an affiliated company, Susan Hahn & Associates became IHI’s media representative with a monthly fee of $1500.
April 1, 2004, Karma Media (KRMA) became an AFUND client and paid $2500 in April and May. Contract expected to resume by the Fall..
May 17 2004 Health Sciences Group (HESG) became an AFUND client and will be paying 15K shares of free trading stock (approximately $2500 monthly for six months) as a consulting fee.
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