The New Bull Market

• Oil prices retreating to $40
• Stock undervalued compared to bonds
• FED raised short term interest rates to 4%, causing more momentum movement to flow OUT of housing and into
  stocks
• "War On Terror" is apparently being won
• GDP growth was good (economist figures, NOT actual figures)
• Consumer spending is robust with babyboomers having an estimated $2.5 trillion/year spending power which is expected to grow to $3 trillion by year 2007 ... That's $32,000 - $38,500 of spending per person per year in the babyboomer generation
• IPOs are back
• Second technology wave has begun with broadband and networking techonologies approaching 90% penetration on the "S-curve"
• China has joined the race

The bad news - FED deficit, trade deficit, and national debt, won't affect the dollar and the US economy till this bull market is over around 2010. At that point a switch into the Chinese Yaun will be the best course of action.

Harry S. Dent is one of the great business thinkers of our time, and I learned most of these points by listening to him and reading his books.