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December 17, 1903


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Thanks, K. Very much appreciate your input while I struggle to get my bearings.

If we get back under 1070, things could fall apart rapidly, as well.

 

 

The daily candle 2 days ago, looks like a great top candle, and it may well turn out to be.

 

I just did not like the the fact that 10K became shport fur da Dow yesterday. Once back below 10K, I'll feel more confident that THE top could be in place.

 

In the mean time, these long moves have a tendency to finish with powerful blowoff legs (see Gold in Feb '03). The move to 1089 could have been it, but if 1089 gets taken out, we could have one more leg towards 1100 or higher.

 

 

Gotta get thru 1075 first though.

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Anybody catch the annual PNC 'cost of the 12 days' was up 16% this year. I guess none of those items are in the CPI.

 

 

While stiff import competition is driving deeper discounts on merchandise sold in the United States, skilled labor cost is on the rise, resulting in a 16 percent increase in this year?s PNC Advisors Christmas Price Index ? the biggest jump the Index has seen in its 19-year history.?

 

http://www.pncbank.com/12days/

 

Up 18% by CNN calculations

 

http://money.cnn.com/2003/12/08/news/econo...tridge/?cnn=yes

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