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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (31394)	4/29/2005 11:27:31 AM
From: ild	Read Replies (1) \| Respond to of 110194

Date: Fri Apr 29 2005 10:09 trotsky (@pm stocks) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved still very weak...the damage to sentiment has been vast. however, a strong close is required on a day like today to indicate an ST bottom is in. so far the action is unconvincing - and that's actually putting it mildly. the yield curve remains the problem...unless it steepens, the sector will likely continue to ignore a higher PoG. seems that at a minimum, some dovish jawboning from one of the monetary pranksters is needed. otoh, the short term downside potential looks very limited as well...lots of potentially bullish divergences, overly bearish sentiment, oversold conditions and the vincinty of strong support levels combine to create this limitation.