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Tuesday, October 21, 2008
Rate Watch 10/21/08: Carefully Floating
Bond Prices are testing multi month highs after yesterdays strong rally where we saw prices move higher through the 25, 50, 100 and 200 day moving averages. Today we are seeing Stocks take a breather, after a 400 point increase yesterday, as sour earnings reports for 3 major companies are released. For now, I recommend carefully floating as we continue to hover above the 4 floors of support, which were the ceilings we needed to break through yesterday! Yesterday was a very good day for Bonds!
