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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (63117)	6/8/2006 1:01:25 PM
From: ild	Read Replies (2) of 110194

Date: Thu Jun 08 2006 08:59 trotsky (@the Rand) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved the Rand is now right at weekly and monthly resistance - and imo the daily Rand/dollar looks quite bullish ( i.e., Rand-bearish ) . it looks like 5 waves up followed by a running correction ( now in wave B of same ) from the May 19 low. it's probably a good bet that the liquidation of emerging market currency carry trades isn't quite over yet. not a good sign for commodities and gold - gold needs a steepening of the US yield curve now in order to decouple. presumably that will begin after the next Fed rate hike, which is bound to invert the curve once again ( and is also bound to drive a stake into the heart of the already sick-looking real estate boom ) .

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