  We discuss in detail properties of trapped atomic condensates with
anisotropic dipole interactions. A practical procedure for constructing
anisotropic low energy pseudo potentials is proposed and justified by the
agreement with results of numerical multi-channel calculations. The time
dependent variational method is adapted to reveal several interesting features
observed in numerical solutions of condensate wave function. Collective low
energy shape oscillations and their stability inside electric fields are
investigated. Our results shed new light into macroscopic coherence properties
of interacting quantum degenerate atomic gases.
