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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Debt Free who wrote (44730)	4/16/2008 3:14:24 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68762

The key point in my mind is that Las Vegas has been relative recession proof in previous slow downs. The fact that business is down significantly enough to cause the layoff of that many workers may foreshadow a deeper underlying weakness in the US economy. We are rallying to do despite the fact that oil hit a new high and the economic reports today show a weakening economy. The rally may be more related to trader closing their position ahead of options expiration as opposed to the expectation that the recession is over.