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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (807)	8/7/2003 8:46:12 AM
From: Louis V. Lambrecht	Read Replies (2) \| Respond to of 48092

OT - tom, one of the factors of rates is the FED. If you can tell me what the FED is going to do, I could answer. ROFL. The FED has to keep 10-yr yelds below 6.5% (as the mortgages are calculated principally on the 10-yr). Above 6.5%, long term mortgages will be a pain and -not only kill the refis business- but also sent many lenders in personal bankrupcy. What the FED will do is really the key. The 10-YR is an interesting chart, TA speaking, for some lines point to a rebound of the price (=rates down) for 6-months horizon. Fun to watch, as you will watch the FED's salesmanship in real time. Looking at years, 10-yr price has more room below, than space to rise. Have we topped? it looks so, hence, prices are due down, rates up. Even the FED is not powerfull enough to control the global financial markets. My 2 cents. Don't trust me, I am from the old economy. In those days, interest rates had two components: the rent of the money plus the currency risk.