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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (66781)7/24/2006 2:21:29 PM
From: orkrious  Read Replies (1) of 110194
 
the pm shares are already indicating that 'down' is temporarily off the menu.
i sort of like AU_NB's proposed wave count posted earlier:
kitcomm.com

- mainly because the sentiment indicators are also consistent with a wave 2 correction ( if i remember correctly from Prechter's tome, 'bearishness at the wave 2 low will often exceed the bearishness at the beginning point of wave 1' - this is certainly the case here ) .
otoh, your point about the pm sector still being hostage to the Dow's performance remains a concern - the best case would be if they ceased to be part of the general liquidity on/off game, and there's no sign of that yet.
well, lettuce see what happens - whether the AU_NB proposed wave count is the correct one is something we'll find out in short order, since third waves usually leave little doubt as to their charcter.
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