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

To: ild who wrote (32272)	5/12/2005 1:13:53 PM
From: ild	Read Replies (1) \| Respond to of 110194

Date: Thu May 12 2005 12:40 trotsky (Miro) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved well, i would agree it's a capitulation in progress and one can't say when and where exactly it will end. nevertheless, i feel a bit reminded of March 03, when i voiced doubts about the possibility that the rally then in progress would continue ( that was met with incredulity by a number of people ) . the XAU had just put in a secondary high after advancing some 6 points or so in two days...a level not seen again since. at the time the shape of the yield curve was basically the opposite of today's ( i.e. extremely wide ) .