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We Are Living In Interesting Times

Brian Bloom

Some charts are breaking down and others are breaking up

1. Breaking Down

Central Fund of Canada now trading at a discount to NAV

2. Breaking up

Dollar weighted SPX tentatively peeking up through falling trendline

Latest move on USD vs Oil has retraced more than 50% of previous fall

In context of JPM breaking down, Banking Index breaking up relative to Industrials is very confusing.

What to make of all this?

No sensible idea

Brian Bloom

Australia, May 19^th, 2005

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