MARKET REPORTS

The following reports were published on the dates specified, and do not necessarily reflect Walter's long-term outlook at this time. The purpose of including them here is to show the analytical process.

"The 4-Year Cycle in the Stock Market", originally published in 1982 (to our website on 10/98) and last updated on 4/15/2005.

"CRB Index", published 6/98

"Euro", published 3/99

"Forex", published 1/99