Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Lucretius who wrote (34436)	11/25/1998 10:08:00 AM
From: Gersh Avery	Read Replies (1) of 94695

Lucretius .. the slope has been down. There was two events that caused a strong tick up. LTCM unwound some carry trade and at almost the same time the fed unexpectedly dropped interest rates. Both events were almost at exactly the same time. Both events placed massive upward pressure on the yen .. just for that moment. After these two events the yen has resumed about the same slope down as before. The trend is still down. Gersh

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