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July 13, 2007


John Rowe

Regarding the current sub-prime meltdown, I am seeing and hearing the phrase "bought with no money down." I submit that nothing has been "bought" by these "victims." They had a shot at the total upside of the market with immunity from the downside. I will take that kind of bet in any market at any time.
Dick is a master of the language, but in his recent piece I encountered the verb "upcrossed." Ugh! Dick, please.

Dick Lepre


Hey! That (upcross) is a word which we technical junkies use all the time. It has a precise definition. It has to do with the Stochastic %K line crossing upwards over the %D line. It is a bullish signal. I confess to jargon but nothing more.

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