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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (77578)11/19/2007 12:27:50 PM
From: Real Man  Read Replies (1) of 94695
 
I got out in the morning, so now it can rally -ggg- 90.62 was
May-2004 low for the banking index, BKX, which is driving the
whole thing lower. The low today was 89.96. If this thing does
not bounce, it's going to crash, since it is trying to violate
a major support, with the next stop somewhere at 2002 bear
market lows. Not good, obviously. I think it might be crashing.

And, this is Fannie, probably worth a few tens of trillions notional in
mortgage derivatives. It broke everything, and is flying down
Enron style. That's not funny. Gulp! If JPM starts doing it,
we are doomed.

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