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The issue with the Euro, that I've heard, is that the selloff is being done with the defacto blessing of the EU
They need a lower currency in order to oblige their weaker member states. When currency traders get wind of something like that, it's blood in the water
Same thing happened with the USD back in 2003, when the US admin made it clear that they were in favor of a weaker USD, all the time issuing empty rhetoric about a 'strong dollar'
Currency traders knew there was no danger of an intervention, took the signal and ran with it
I know, which is why I wasn't buying it the other day. Sentiment is still too bearish...this could be scraping the bottom a little longer
Of course, if there is a real resolution to the Greek and Portuguese debt crisis, you will see a healthy rebound
>>DIG $30 Puts +8.33% ($.60 x .75), vol 15
http://i47.tinypic.com/2hewtud.png
COPPER Stocks RED: BHP -1.73%, FCX -1.82%, PCU -0.89%, JJC -0.81%, VALE -0.87%, SLT -0.74%, RTP -0.66%, WIRE -0.47%
COPPER FUTURES -0.4190% ($2.9710)
CHINA Stocks GREEN: BIDU +8.29%, GXE +1.28%, EDU +1.14%, PGJ +0.97%, FXI +0.75%, SOHU +0.46%, EWH +0.27%, CYB +0.08%
FXP: -1.65% ($9.55) (ultrashort china market)
COMPUTER Stocks GREEN: MRCY +7.07% now, ADBE +3.17%, DELL +1.92%, HPQ +0.83%, STX +0.44%, MSFT +0.40%, ALTR +0.32%, QTEC +0.51%
Benchmark: VIX -0.23% ($25.94)
Watching: SDS -0.19% ($37.40)...up or down do we go?
>>MRCY +2.12%, $11.55), rising on vol, fyi
>>COMPUTER Stocks Green PM: ADBE +3.62%, DELL +1.85%, HPQ +0.51%, STX +0.11%