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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 680.44+0.6%Dec 19 4:00 PM EST

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To: Giordano Bruno who wrote (17301)6/14/1999 6:34:00 PM
From: pater tenebrarum  Read Replies (1) of 99985
 
Jim, the bank of Japan, officially concerned about the strength of the yen hurting the japanese export sector, today sold 5 billion US$ worth of yen in an open market operation. on friday, a rumor made the rounds of a hedge fund being in trouble. i'm not usually given to conspiracy theories, but something is smelly here. as the Captain has so eloquently put it earlier today, today's rally in the bond seemed designed as an opportunity to sell for the 'money monkeys'. this whole overleveraged system of credit swaps, carry trades and what have you is a house of cards that will come crashing down on us one day.

regards,

hb
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