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techcharter

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techcharter

Re: None

Tuesday, 02/24/2009 10:07:15 PM

Tuesday, February 24, 2009 10:07:15 PM

Post# of 51818
Conflicting Data

The stock markets had a wonderful day. The ABX (mortgage index), fell a couple percent. junk rated debt usually trades in parallel with stocks, not counter. The bond market just isn't buying the stimulus and other rescue attempts. The chart for ABX-HE-AAA 06-1 shows wave c of a double zigzag consolidation is still a possible wave count.

http://www.markit.com/information/products/category/indices/abx.html


The mood at work is getting openly gloomier despite no rumors of layoffs. This is a symptom at the beginning of a Wave 3.
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