de ja vu, page-174

after a weekend to let things settle, the T/A suggests a bounce (or not) anytime soon, but lately I've found the fundamentals to be a better guide... basically, I believe we're at the start of a new major leg down because (1) T/A break of support (2) only $200 billion of the expected $600 billion of losses have been brought to account so far, with expectations of another $200 bill being written down soon. Essentially the fundamentals and the T/A are suggesting another leg down almost equivelant of the first.

I also note that aussie banks look like having their own subprime situation to deal with, not previously announced til some analysts wrote stuff about their high risk mortgage lending, in the weekend papers.