FINANCIAL CYCLES WEEKLY UPDATE #0417 – April 25-May 1, 2004 with TIM BOST

COMMENT: Last week we noted the connection between eclipses and “major natural and geopolitical upheavals,” and last Monday’s solar eclipse proved to be no exception to the rule.
Federal Reserve Chairman Alan Greenspan managed to keep the markets from hysteria by pointing to “vigorous growth” in the economy while admitting that interest rates “must rise at some point,” and leaving everyone guessing as to exactly when that point will be reached. In world affairs, however, where we commented that “things remain the most volatile,” there was plenty of action to remind us that an important eclipse was in play.
There were of course the usual bombings and killings in Palestine and Iraq. Unfortunately that’s no longer news. Nor was the continuing erosion of the U.S. “coalition” in Iraq particularly newsworthy—when Honduras and the Dominican Republic announced that they would follow Spain’s example and withdraw their troops from Iraq, nobody paid much attention.
What was news was a major terrorist attack on Wednesday in Saudi Arabia, in which a car bomb destroyed a security building in Riyadh, killing 5 people and wounding nearly 150 more. The Saudis killed 5 more suspected terrorists when they foiled another attack in Jiddah later in the week.
The other big explosion was caused by a train wreck in Ryongchon, North Korea. The true nature of the event is not entirely clear—the country’s state-run news agency reported that the explosion was caused by electrical wires igniting train cars filled with chemical fertilizer, while the Swedish ambassador to North Korea said that railroad workers were moving cars filled with construction explosives when the blast occurred. The fact that North Korean leader Kim Jong Il had passed through the train station just hours before the explosion happened was not seen as a reason to consider it anything other than an accident.
What was clear was the massive damage. Early reports speculated that 3,000 people had died; the Red Cross has since confirmed 161 deaths, with at least 76 of them children. Thousands of homes and other buildings were destroyed or severely damaged by the explosion, with roughly two-thirds of the city center leveled. And it wasn’t just the solar eclipse that provided a focal point for the tragedy. The devastation came with transiting Pluto in opposition to a conjunction of Mars and Hades, amplified by the application of retrograde Mercury. At the time of the explosion in Ryongchon, Neptune (chemicals) and Poseidon (release of light and energy) were both angular.
For that matter, we should remember that not all events around eclipses are violent ones; what they have in common is their importance. In Cyprus a United Nations plan for reunification was soundly defeated at the polls, with 65% of Turkish Cypriots favoring the plan and nearly 76% of Greek Cypriots voting against it. Cyprus has been divided into a Greek Cypriot-controlled south and a Turkish-occupied north for an entire Saturn cycle, since Turkey invaded the island nation in 1974. The vote means that Cyprus will not join the European Union on May 1 as a unified state; the EU laws and benefits will apply only to Greek Cypriots.
In Washington, there were two important events: the publication of Bob Woodward’s new book which accused the Bush Administration of misappropriating government funds flagged for fighting terrorists in Afghanistan and using the money to launch its war against Iraq; and President Bush’s decision to lift sanctions against Libya. This paves the way for Libya’s first oil shipments to the U.S. to begin next month, with the state-owned National Oil Company reporting that negotiations are already underway with several U.S. companies for shipments totaling two million barrels of crude.
That’s not to say that oil prices will be getting any cheaper. While the tensions in Saudi Arabia and the escalating war in Iraq are two major concerns that add to strong demand to keep prices high, the skyrocketing cost of filling up the SUV can’t be blamed entirely on foreign discord or on price-gouging by the big petroleum companies. It’s also due to a much, much weaker dollar.
In Paris, the Arab Oil Institute recently reported that while Opec’s revenues topped $210 billion in 2000, that was equivalent to only $67 billion in 1974 dollar. In 2003, with Opec’s revenues at nearly $241 billion, the equivalent in 1974 dollar value was below $80 billion.
So while we are still getting used to having to stop at the ATM machine before we stop at the gas pump, we need to keep one important thing in mind: it’s not just the price of gasoline that’s going up; it’s everything else, too. In fact, if we really want to shift our attitudes, we can just stop thinking that things cost more now. Instead, we can just get used to the fact that our money is worth less!


THE WEEK AHEAD

More than 1,000 companies are expected to report earnings this week, so much of the detail in the overall picture will get lost in the sheer volume of information. Keep in mind that with Mercury still in retrograde motion until April 30, many of the week’s earnings reports will need to be taken with a grain of salt. Some of the most important earnings figures that we will be tracking will include ABN Amro Holdings (ABN), Aventis (AVE), AstraZeneca PLC (AZN), Boeing (BA), Banco Bilbao Vizcaya Argentaria S. A. (BBV), Bristol-Myers Squibb (BMY), British American Tobacco (BTI), Anheuser-Busch (BUD), Canon (CAJ), Comcast (CMCSA), ConocoPhillips (COP), ChevronTexaco (CVX), DaimlerChrysler (DCX), DuPont (DD), Dow Chemical (DOW), Gillette (G), GlaxoSmithKline (GSK), Honda Motor (HMC), Matsushita Electric Industrial (MC), McDonalds (MCD), Nomura Holdings (NMR), Nissan Motor (NMR), Procter & Gamble (PG), Royal Dutch Shell (RD), Shell Transport & Trading (SC), Siemens AG (SI), Sony (SNE), Banco Santander Central Hispano SA (STD), TSMC (TSM), Time Warner (TWX), Verizon (VZ), and ExxonMobil (XOM).
The major economic numbers this week will include New and Existing Home Sales for March, April Consumer Confidence, the advance estimate on Q1 GDP, Initial Jobless Claims and Help-Wanted Index, March Personal Income and Personal Spending, the Chicago Purchasing Managers Index for April, and the revised April Sentiment numbers from the University of Michigan. There will also be plenty of opportunity for the spin doctors to go to work on economic trends, with speeches this week from Fed Chairman Alan Greenspan, Council of Economic Advisors Chairman N. Gregory Mankiew, Treasury Secretary John Snow, and Commerce Secretary Don Evans. On the global scene, the economic outlook could also be impacted by a vote by the Likud Party in Israel on Ariel Sharon’s plans for the Gaza Strip and by a meeting of the Bank of Japan to set interest rates.
Astrologically most of the week is fairly uneventful, especially in contrast to last week’s eclipse and Pluto action. A void-of-course Moon throughout the trading day on Monday demands extra caution in the markets; we will be using it as a one-day vacation from trading action. On Tuesday heliocentric Mercury enters Sagittarius, starting a transit that is typically bullish for gold prices. Friday brings a heliocentric Mars/Chiron opposition and an end to the current Mercury retrograde period, setting the stage for some much more volatile cosmic energy that will kick in next weekend. Sunday alone will feature a Chiron retrograde station, the Moon crossing the celestial equator, Jupiter at maximum declination, heliocentric Mars conjunct Vulcanus, and geocentric Venus conjunct Hades and in opposition to Pluto.
Overall, however, the astrological environment for the market looks like a fairly positive one. The heliocentric Mars/Chiron opposition and geocentric Venus/Pluto opposition have both been associated with run-ups in the Dow Industrials quite consistently in the past, and with Mercury returning to direct motion we should get a clearer trend emerging. We certainly won’t be casting caution to the winds, but we will be seriously considering some fresh long positions to hold for the short term.
Have a wonderful week!

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GLOBAL EQUITIES MARKETS LAST WEEK

Except for Hong Kong, where the Hang Seng Index put in yet another new low for the year, stock markets around the world posted gains last week. In many cases the advances were quite modest ones, however, especially for U.S. blue chips and utilities.

Dow Jones Industrial Average – up 0.20%
Dow Jones Transportation Average – up 2.12%
Dow Jones Utilities Average – up 0.05%
S& P 500 – up 0.53%
NASDAQ Composite Index – up 2.71%
Russell 2000 – up 1.26%
London FTSE-100 – up 0.72%
Paris CAC-40 – up 1.60%
Frankfurt DAX – up 1.73%
Sydney All Ordinaries – up 1.09%
Tokyo Nikkei – up 2.50%
Hong Kong Hang Seng Index – down 0.60%
Singapore Straits Times Index – up 0.74%


FINANCIAL CYCLES MODEL PORTFOLIO


NO POSITIONS CLOSED DURING THE PREVIOUS WEEK.

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POSITIONS ADDED TO THE PORTFOLIO DURING THE PREVIOUS WEEK: DRTE, COCO, AVP, MIDD.

We added two long positions and two short positions to the Model Portfolio during the previous week.

We bought 600 shares of Dendrite International (DRTE) at 16.75 on 04/19/04, setting our initial stop at 15.75.
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We sold short 300 shares of Corinthian Colleges Inc. (COCO) at 35.75 on 04/22/04, setting our initial buy stop at 37.00.

We bought 100 shares of Avon Products (AVP) at 78.75 on 04/23/04, setting our initial stop at 77.65.

We sold short 200 shares of Middleby Corporation (MIDD) at 48.00 on 04/23/04, setting our initial buy stop at 53.00.

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YEAR-IN-REVIEW MODEL PORTFOLIO ACTIVITY

Based on the Model Portfolio’s composition at the beginning of 2004, featuring positions with an acquisition cost basis of $53,947.50 ($66,022.50 in long positions less short liabilities of $12,075.00), we reduced our cash holdings in the Model Portfolio to $46,052.50 on January 1. This returned the total portfolio value to $100.000.00 as we began trading in 2004.

So far this year we have had a total of 65 completed trades, with 28 winners and 37 losers bringing us a total net profit of $743.50. The largest profit for a single trade has been $1,522.50; the largest single-trade loss has been $750.00; the average profit per trade has been $11.44. The mean duration of our trades has been 8.7 trading days.

During 2003 we had a total of 176 completed trades, with 99 winners and 77 losers bringing us a total net profit of $51,717.00. The largest profit for a single trade was $9,240.00; the largest single-trade loss was $1,170.00; the average profit per trade was $293.85. The mean duration of our trades was 10.1 trading days.

During 2002 we had a total of 195 completed trades, with 119 winners, 74 losers, and 2 break-even trades bringing us a total net profit of $50,956.00. The largest profit for a single trade was $5,100.00; the largest single-trade loss was $1,055.00; the average profit per trade was $261.31. The mean duration of our trades was 12.7 trading days.

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CURRENT POSITIONS IN THE MODEL PORTFOLIO

Avon Products (AVP) – bought 100 shares at 78.75 on 04/23/04; currently 78.71. Raise stop to 77.80.

Corinthian Colleges Inc. (COCO) – sold short 300 shares at 35.75 on 04/22/04; currently 35.37. Lower buy stop to 36.25.

Coventry Health Care Inc. (CVH) – bought 200 shares at 40.85 on 04/15/04; currently 44.16. Raise stop to 42.83.

Dendrite International (DRTE) – bought 600 shares at 16.75 on 04/19/04; currently 19.22. Raise stop to 17.84.
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Hologic Inc. (HOLX) – bought 500 shares at 19.95 on 03/30/04; currently 22.77. Raise stop to 21.93.

Middleby Corporation (MIDD) – sold short 200 shares at 48.00 on 04/23/04; currently 48.08. Lower buy stop to 49.52.

QLT Inc. (QLTI) – bought 400 shares at 22.75 on 03/22/04; currently 29.60. Raise stop to 28.50.

Sonic Corporation (SONC) – sold short 300 shares at 33.33 on 04/14/04; currently 32.78. Lower buy stop to 33.30.

Standard Pacific Corporation (SPF) – sold short 200 shares at 54.90 on 04/13/04; currently 54.24. Lower buy stop to 55.40.


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STRONGEST MARKET SECTORS LAST WEEK

Drug Related Products; Printed Circuit Boards; Hospitals; Major Automobile Manufacturers; Motion Picture Theaters.

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WEAKEST MARKET SECTORS LAST WEEK

Silver; Copper; Gold; Data Storage Devices; Metals & Mining.

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April 25
Heliocentric Mercury semisquare Heliocentric Venus 00:03 EDT
Mercury sextile Mars 00:41 EDT
Heliocentric Mercury opposition Heliocentric Admetos 00:52 EDT
Heliocentric Venus sesquiquadrate Heliocentric Admetos 01:30 EDT
Heliocentric Mercury trine Heliocentric Vulcanus 04:26 EDT
Heliocentric Mercury semisquare Heliocentric Zeus 06:32 EDT
Heliocentric Mercury quincunx Heliocentric Hades 06:54 EDT
Heliocentric Earth semisquare Heliocentric Pluto 07:49 EDT
Heliocentric Mercury semisextile Heliocentric Apollon 09:08 EDT
Mercury sextile Hades 09:09 EDT
Mars opposition Pluto in right ascension 11:25 EDT
Heliocentric Venus conjunct Heliocentric Zeus 11:36 EDT
Heliocentric Venus in 24th harmonic to Heliocentric Apollon 16:12 EDT
Heliocentric Mercury in 24th harmonic to Heliocentric Cupido 16:29 EDT
Mercury semisextile Admetos 16:31 EDT
Sun sextile Uranus 16:39 EDT
Heliocentric Earth conjunct Heliocentric Poseidon 18:26 EDT
Sun opposition Poseidon 18:34 EDT
Sun opposition Poseidon in right ascension 18:35 EDT
Sun contraparallel Poseidon in right ascension 18:36 EDT
Mercury trine Pluto 18:44 EDT
Heliocentric Earth parallel Heliocentric Poseidon 19:04 EDT
Sun contraparallel Poseidon 19:13 EDT
Mercury square Vulcanus 21:48 EDT

April 26
Markets in Australia closed today.
Heliocentric Venus sextile Heliocentric Cupido 05:14 EDT
Mars trine Apollon 05:26 EDT
Void-of-Course Moon 05:56 – 22:14 EDT
Sun in 24th harmonic to Mercury 11:32 EDT
Sun sesquiquadrate Pluto 17:10 EDT
Sun in 24th harmonic to Admetos 18:43 EDT
Sun semisquare Hades 21:47 EDT

April 27
Mars in 24th harmonic to Saturn 00:02 EDT
Heliocentric Mercury parallel Heliocentric Cupido 02:12 EDT
Sun quincunx Zeus 04:46 EDT
Venus trine Neptune in right ascension 05:55 EDT
Sun contraparallel Chiron 08:39 EDT
Sun contraparallel Chiron in right ascension 08:42 EDT
Uranus trine Poseidon 10:20 EDT
Heliocentric Mercury sesquiquadrate Heliocentric Saturn 11:23 EDT
True Lunar Node retrograde station 13:55 EDT
Heliocentric Mars quincunx Heliocentric Pluto 16:14 EDT
Heliocentric Earth semisextile Heliocentric Zeus 16:41 EDT
Heliocentric Earth sesquiquadrate Heliocentric Hades 17:47 EDT
Heliocentric Mercury enters Sagittarius 18:40 EDT
Heliocentric Mercury contraparallel Heliocentric Vulcanus 19:06 EDT
Heliocentric Mars parallel Heliocentric Kronos 19:06 EDT
Pluto quincunx Vulcanus 22:02 EDT

April 28
Heliocentric Earth in 24th harmonic to Heliocentric Apollon 00:19 EDT
Heliocentric Mercury quincunx Heliocentric Kronos 03:20 EDT
Mars semisextile Vulcanus in right ascension 04:16 EDT
Sun contraparallel Pluto in right ascension 04:33 EDT
Sun contraparallel Pluto 04:34 EDT
Mars semisquare True Lunar Node in right ascension 09:40 EDT
Sun sextile Saturn 10:52 EDT
Heliocentric Mercury contraparallel Heliocentric Hades 13:09 EDT
Heliocentric Mercury contraparallel Heliocentric Saturn 14:20 EDT
Heliocentric Earth parallel Heliocentric Pluto 14:42 EDT
Venus sesquiquadrate Poseidon in right ascension 15:16 EDT
Sun semisquare Hades in right ascension 18:00 EDT
Sun trine Jupiter 18:54 EDT
Heliocentric Venus trine Heliocentric Neptune 21:06 EDT
Heliocentric Earth semisextile Heliocentric Cupido 22:08 EDT
Void-of-Course Moon begins 22:08 EDT
Sun sesquiquadrate Pluto in right ascension 23:19 EDT

April 29
Markets in Japan closed today.
Sun quincunx Zeus in right ascension 00:24 EDT
Heliocentric Mercury square Heliocentric Uranus 00:53 EDT
Void-of-Course Moon ends 08:00 EDT
Heliocentric Venus square Heliocentric Saturn 09:27 EDT
Sun quincunx Cupido 15:46 EDT
Heliocentric Mercury in 24th harmonic to Heliocentric Pluto 19:14 EDT
Heliocentric Mercury contraparallel Heliocentric Mars 19:55 EDT
Heliocentric Venus parallel Heliocentric Zeus 20:46 EDT
Heliocentric Mercury semisextile Heliocentric Poseidon 22:47 EDT
Heliocentric Mercury contraparallel Heliocentric Kronos 23:54 EDT

April 30
Heliocentric Mars opposition Heliocentric Chiron 00:23 EDT
Heliocentric Earth parallel Heliocentric Chiron 02:52 EDT
Venus semisextile Admetos in right ascension 03:03 EDT
Heliocentric Mercury semisquare Heliocentric Chiron 04:33 EDT
Heliocentric Mercury sesquiquadrate Heliocentric Mars 05:21 EDT
Mercury semisquare Uranus 08:27 EDT
Mercury direct station 09:06 EDT
Venus sesquiquadrate Poseidon 10:31 EDT
Sun sextile Uranus in right ascension 11:01 EDT
Heliocentric Mercury sesquiquadrate Heliocentric Vulcanus 12:50 EDT
Sun quincunx Cupido in right ascension 14:18 EDT
Heliocentric Mercury sextile Heliocentric Zeus 15:04 EDT
Mercury sextile Venus 16:24 EDT
Heliocentric Mercury semisquare Heliocentric Apollon 17:45 EDT
Sun semisquare Mars 20:05 EDT
Mercury semisquare Uranus 23:51 EDT

May 1
Mercury sextile Venus in right ascension 00:59 EDT
Heliocentric Mercury conjunct Heliocentric Cupido 01:28 EDT
Mars quincunx Chiron 02:28 EDT
True Lunar Node direct station 03:07 EDT
Sun conjunct True Lunar Node 03:16 EDT
Sun parallel True Lunar Node 03:17 EDT
Sun conjunct True Lunar Node in right ascension 03:38 EDT
Sun parallel True Lunar Node in right ascension 03:39 EDT
Heliocentric Mars sextile Heliocentric Admetos 04:01 EDT
Mars semisquare True Lunar Node 07:03 EDT
Void-of-Course Moon 07:31-14:03 EDT
Jupiter sextile Saturn 16:32 EDT

May 2
Heliocentric Venus semisextile Heliocentric Jupiter 00:37 EDT
Chiron retrograde station 01:13 EDT
Heliocentric Venus sesquiquadrate Heliocentric Uranus 01:45 EDT
Moon at 0 degrees declination 01:59 EDT
Sun sextile Saturn in right ascension 02:01 EDT
Heliocentric Mars conjunct Heliocentric Vulcanus 02:12 EDT
Venus opposition Pluto 02:14 EDT
Heliocentric Earth semisextile Heliocentric Mercury 05:20 EDT
Venus semisextile Vulcanus 06:49 EDT
Jupiter at maximum declination 11:15 EDT
Venus semisextile Admetos 13:39 EDT
Mars quincunx Chiron in right ascension 13:50 EDT
Heliocentric Mercury sextile Heliocentric Neptune 15:01 EDT
Heliocentric Mars semisextile Heliocentric Hades 18:08 EDT
Venus trine Apollon in right ascension 19:40 EDT
Venus conjunct Hades 20:35 EDT
Heliocentric Mercury quincunx Heliocentric Saturn 23:15 EDT


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STOCKS TO WATCH: AH, ASPT, HAL, PPG, RHAT, TACT.

Armor Holdings Inc. (AH)
NYSE; Optionable
First Trade Date: 05/07/1999; 09:30 a.m.
Trading Strategy: With Saturn moving toward the First-Trade Ascendant and Mars conjunct First-Trade Hades, AH looks like a good candidate for a short sale. We are continuing to look for a daily close below the 50-day moving average. When it comes we will sell AH short, setting our initial buy stop at 36.00.

Aspect Communications Corporation (ASPT)
NASDAQ; Optionable
First Trade Date: 05/01/1990; 09:30 a.m.
Trading Strategy: With transiting Saturn currently conjoining both the ASPT First-Trade Ascendant and First-Trade Jupiter as well, it’s not surprising that this stock has dipped below its 50-day moving average in recent trading sessions. The ASPT First-Trade Sun and First-Trade Zeus will both be activated by the retrograde station of transiting Venus in mid-May; they are already experiencing some lively activation from the transiting True Lunar Node. The meeting of a geocentric 27.95 Uranus line and a geocentric 44.0 Admetos price line at approximately 14.00 marks a very significant support zone for this stock. ASPT traded below this combination line during the past week; if we get two consecutive closes above this price point this week we will add a long position in ASPT to the Model Portfolio. We will be setting our initial stop at 13.86 to coincide with the Mercury direct station as reflected in a geocentric 44.75 Mercury line.

Halliburton Company (HAL)
NYSE: Optionable
First Trade Date: 09/15/1948; 10:00 a.m.
Trading Strategy: The current Pluto/Hades opposition is activating both Venus and Cupido in the HAL First-Trade horoscope, so it’s little wonder that Big Bad Halliburton has become a major villain in the public consciousness recently. But that negative image doesn’t say anything about profitability, however, and with transiting Pluto conjoining First-Trade Jupiter while transiting Saturn completes a planetary picture with First-Trade Zeus and Poseidon, we are likely to see higher prices for this stock in the immediate future. Our plan is to add a long position in HAL to the Model Portfolio early this week, setting our initial stop at 28.94.

P P G Industries (PPG)
NYSE; Optionable
First Trade Date: 12/17/1945; 10:00 a.m.
Trading Strategy: In its last couple of trading sessions, PPG has penetrated the 24.69 geocentric Mercury line which has guided much of its price movement in the past. This suggests that although this stock may see a price pull-back until the Mercury station at the end of the month, it is also likely to rebound rather nicely with a healthy price advance as we move into May. With transiting Saturn square the PPG First-Trade conjunction of Neptune and Poseidon, and with the True Lunar Node square the PPG First-Trade Pluto, the corresponding planetary lines for these First-Trade planets become important as well. We’ve set a geocentric 18.85 line for Neptune, a geocentric 18.84 line for Poseidon, and a geocentric 13.15 line for Pluto. Our plan is to add a long position in PPG to the Model Portfolio early this week, setting our initial stop on that Pluto line at 60.35.

Red Hat Inc. (RHAT)
NASDAQ; Optionable
First Trade Date: 08/11/1999; 09:30 a.m.
Trading Strategy: With transiting Neptune conjoining the RHAT First-Trade Uranus, this software stock has begun to catch the imagination of more investors recently. We are intrigued by the semisquare of transiting Apollon to First-Trade Pluto as well, however. Could it be an indicator of bigger and brighter things to come? Just in case it is, we will be adding a long position to the Model Portfolio this week, setting our initial stop at 22.00.

Transact Technologies Inc. (TACT)
NASDAQ
First Trade Date: 08/22/1996; 09:30 a.m.
Trading Strategy: With transiting Saturn approaching the Midheaven of the TACT First-Trade horoscope, this stock has started to look a little toppy during the past few weeks. With transiting Zeus conjunct the TACT First-Trade Ascendant, and with the transiting True Lunar Node semisquare First-Trade Kronos, things could still get interesting for this stock. There’s likely to be an even more positive outlook when Venus makes its retrograde station as it conjoins First-Trade Kronos in mid-May. Our plan is to add a long position in TACT to the Model Portfolio this week, setting our initial stop at 21.00.


FINANCIAL CYCLES (ISSN 1055-8527) is published by Taylor-Bost Consulting and edited by Tim Bost at 2831 Ringling Boulevard, Suite B-108, Sarasota, FL 34237 USA. Phone: 941-953-3545. Fax: 941-953-3732. Web: http://www.TimBost.com. Entire contents copyright 2004 Timothy L. Bost. No portion of this Weekly Email Update or its printed version may be reproduced without the publisher's written permission. Subscriptions to FINANCIAL CYCLES are $39.00 per month for weekly updates by email, payable by monthly billing to a major credit card. Advance payment options (by credit card, check, or money order) are $228 for 6 months, $432 for 1 year or $815 for two years. All subscriptions are payable in US funds only— Visa, MasterCard, American Express, Diners Club, and Discover/Novus accepted; please make checks or money orders payable to Taylor-Bost. PayPal is also accepted for online orders; to subscribe go to http://www.TimBost.com/newsletter/subscribe.html.

By providing a source of independent market analysis, the purpose of FINANCIAL CYCLES is to foster the growth of person-centered business and investment astrology; to enhance the development and dissemination of financial literacy and prosperity consciousness; and to explore the use of technical analysis and financial astrology in promoting an esoteric spiritual understanding of economic trends, geocosmic cycles, geopolitical events, and market movements. FINANCIAL CYCLES is a general interest publication which is prepared from astrological information, news reports, cycle projections, and market observations which are believed to be accurate and reliable, but which cannot be guaranteed. Portfolio and trading reports in this publication do not include taxes and transaction fees, which should be taken into consideration by prospective traders and investors. Even with accurate information, past performance is no guarantee of future results. Speculation in securities and commodities involves considerable financial risk, and readers who plan to invest or speculate in securities or commodities mentioned in FINANCIAL CYCLES have the complete responsibility for making themselves fully aware of all the risks involved before they invest. The editor may or may not have positions in the securities and commodities discussed in this newsletter, and the information in FINANCIAL CYCLES should in no way be understood or construed as a solicitation or an offer to buy or sell any products or securities, nor should the material published in this newsletter be considered buy/sell advice.

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posted by Tim Bost @ 4/25/2004 05:07:58 PM