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SO FAR, SO PERFECT
*April low: 7,603.76
*- See March 31 &
*The following is a brief update in conjunction with previous comments. However, if prior reports do not clarify any aspect of market consideration, please feel free to email or call regarding any question(s).
The two-paragraph December update (http://www.sidklein.com/comments/Dec%209%202003%20update.doc) correctly identified that the forecasted seasonal November/December lows for Japanese stocks had been seen and that many on the “secondary list” would erupt imminently. Before the calendar first quarter’s powerful gains, the model portfolio had completed its 2002 – 2003 year in early October with a gain of 80%.
An example of the post-November strength can be found in the recent performance of stocks, most of which had not been in the prior year’s model portfolio. Favourite selections returned 12% ex-currency in March. Of course, as often pointed out in the past, for regulatory reasons, this letter does not discuss individual names.
NIKKEI – DOW RATIO:
This spread has jumped about 13% and the significance to domestic Japanese stocks is actually understated by this statistic.
Everything is unfolding
exactly as forecast since
“Gold and the currencies are unfolding their respective destinies as forecast in these pages…”
The above appeared in the February 24 issue of SKC. Very simply, regarding gold and the Yen, one may review recent letters along with updated charts and find significant resemblance. Therefore, there is no change in market views here either.
The next regularly scheduled commentary is set for the first weekend of May.
This newsletter is solely the work of the author for the private information of intended recipients only. Although the author is a registered investment advisor at Desjardins Securities Inc., this is not an official publication of Desjardins Securities Inc. The views (including any recommendations) expressed in this newsletter are those of the author alone and are not those of Desjardins Securities Inc. The information contained in this newsletter is drawn from sources believed to be reliable but the accuracy and completeness of the information is not guaranteed, nor in providing it do the author or Desjardins Securities Inc. assume any liability. No solicitation to buy or sell securities should be inferred from either the contents of this newsletter, nor its dissemination. Each potential investment decision and its appropriateness must be considered within the context of the entirety of the individual investor's circumstances. This information is given as of the date appearing on this newsletter and neither the author nor Desjardins Securities Inc. assume any obligation to update the information or advise on further developments relating to the information provided herein.