Sand Spring Advisors LLC

2004 Perspective: Imbalances That Persist

January 25, 2004

by, Barclay T. Leib

Could properly interpreting the chart above of EUR/JPY hold one of the keys to gauging equity market behavior of 2004?

How is it that the dollar keeps going down, and equities keep going up?

What will changing weather patterns portend for our markets in 2004 and beyond?

All of these issues are explored in some detail in Sandspring.com's first subscriber-only missive of 2004 entitled "Imbalances That Persist & Equity Index Fibonacci Rhythms in Foreign Terms" available to subscribers by clicking here. This article is 21 pages in length and represents a fresh perspective on why current consensus thinking might easily lead to unexpected investment consequences.

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Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. The opinions expressed are not intended as specific investment advice, and simply represent our personal views offered here under our right of free speech. Sand Spring Advisors is a NFA registered CTA/CPO, but is not a Registered Investment Advisor. We do not directly trade any client funds. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and we will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.

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