Message-ID: <18115146.1075845222651.JavaMail.evans@thyme> Date: Tue, 5 Jun 2001 11:07:00 -0700 (PDT) From: editorconsensus@aol.com To: editorconsensus@aol.com Subject: CONSENSUS FREE Market Letter--THE OLD ECONOMY IS BACK Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Editorconsensus@aol.com@ENRON X-To: Editorconsensus@aol.com X-cc: X-bcc: X-Folder: \Lewis, Andrew H.\Lewis, Andrew H.\Deleted Items X-Origin: LEWIS-A X-FileName: Lewis, Andrew H..pst FEATURE SELECTION: THE OLD ECONOMY IS BACK by Peter Dag & Associates, Inc. Read the complete article at http://www.consensus-inc.com/newsletter/feature.htm See CONSENSUS Special Discount offer on this page. Each Tuesday the CONSENSUS Newsletter will feature a leading selection from 225 +/- weekly articles from CONSENSUS National Futures and Financial Weekly appearing online at http://www.consensus-inc.com/ or in print. ============================================================ FREE TRIAL A request for a FREE sample of the print and ONLINE version is available at our website or by calling 800-383-1441 or 816-461-2800. Consensus - National Futures and Financial Investment Newspaper ============================================================= TABLE OF CONTENTS: 1. Market commentary from current issue of CONSENSUS National Futures and Financial Weekly. 2. Featured commodity of the CONSENSUS Index of Bullish Market Opinion. 3. Partial Outline of leading articles in current issue of CONSENSUS. ============================================================= FEATURED SELECTION: THE OLD ECONOMY IS BACK by Peter Dag & Associates, Inc. (May 28, 2001) The old economy is back. The more things change, the more they stay the same. There was a big hype in the late 1990's, with the blessing of the Fed, that the economy had entered a new stage of development, supported by above average productivity gains driven by technological innovations... Read the complete article at http://www.consensus-inc.com/newsletter/feature.htm ============================================================= CONSENSUS Index of Bullish Market Opinion Contrary opinion index of market advisors 75% + overbought 25% - oversold FEATURED MARKET: ORANGE JUICE: 76% For more information on all of the CONSENSUS Index of Bullish Market Opinion percentages please go to our sample online issue at http://www.consensus-inc.com/01999si/ Consensus - National Futures and Financial Investment Newspaper To obtain the CONSENSUS Index of Bullish Market Opinion for all 33 markets, please call 900-328-1131 for only $2.99 per minute, updated each Tuesday by 8:00 PM Central Time. ============================================================= To view TOTAL outline of current issue, visit our website http://www.consensus-inc.com/ "Issue Preview" PARTIAL OUTLINE OF FEATURED ARTICLES IN CURRENT ISSUE OF CONSENSUS FUTURES AND FINANCIAL WEEKLY: GANN ANGLES by Phyllis Kahn (June, 2001) May was a very bullish month for all the stock indices, but the divergence between the individual indices was stronger than ever. The Dow was the undisputed leader except for the NYSE index which managed to make new all-time highs. Of course, the NYSE is still trading at the 600+ level, having missed most of the 18-year surge that took place in the other major averages... EURO/YEN: EURO UNDERVALUED BY 30% LONG-DATED FORWARDS PREDICT FURTHER EURO SLIDE by Deutsche Bank AG Foreign Exchange Research Department (June 1, 2001) The recent decline in the Euro's value has once again pushed the new single European currency into significantly undervalued territory versus the U.S. Dollar. According to our purchasing power parity (PPP) estimates, the Euro is presently undervalued by nearly 30% versus the dollar. Historically, PPP undervaluations of this magnitude are not often sustainable. As Figure 1 shows, when the Euro has moved more than +/-20% out of line with its long-run PPP valuation, it has eventually set forces in motion to reverse the currency misalignment... THE NEXT GLOBAL GROWTH DERBY HAS BEGUN by Merrill Lynch & Co. Global Securities Research & Economics Group (May 31, 2001) The stage is set for the next global growth derby. That stage, of course, was built on the aggressive reduction in short-term interest rates around the globe. All major central banks have recently cut interest rates in response to the surprisingly rapid deterioration of the global economy since the fourth quarter of last year... WILD MARKETS AHEAD by Richard A. Brock & Associates, Inc. (May 25, 2001) Actually, there have been some wild markets behind as well. These have not been easy markets and we don't expect the trends to get any easier in the weeks ahead. Current weakness in the grain markets has certainly turned attitudes negative among most producers. But before everyone throws in the towel, remember a couple of things:... GLOBAL STRATEGY AND INVESTMENT TRENDS by David Fuller (May 25, 2001) Ronnie Biggs Saga A Metaphor For New Labour--A moment of welcome public relations for the UK's tourism industry, recently trampled by foot-and-mouth disease--Ronnie Biggs of 1960's Great Train Robbery fame gave up Brazil's sunshine and Lambada dancers because he missed England's green and rolling hills, pubs, national health service and presumably the rain... ============================================================= This FREE weekly Newsletter publication is sent ONLY to people who have expressed and interest in financial and investment information. Please forward this Newsletter to your Associates/Friends. SUBSCRIBE mail to: editior@consensus-inc.com UNSUBSCRIBE mail to: editor@consensus-inc.com ============================================================= Thank you for reading the CONSENSUS Market Advisory Newsletter. In the future we plan to include special offers, contests and other features. The next issue of our newsletter will be e-mailed June 12. CONSENSUS, INC. PO Box 411128, Kansas City, MO 64141 816-461-2800 or 800-383-1441 mail to: editor@consensus-inc.com