AI
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Thursday, May 26, 2005 1:43:37 AM
*xe, Euro thoughts - While I'm admittedly not a fan of any currency that doesn't have a sound "check & balances" backing to it, i.e. $GOLD - I do think that a big portion of the Euro weakness from a potential France no has already been built in... in fact, this type of activity reminds me of when the IMF was talking about selling a heap of $GOLD to finance certain global debt of poor countries... it wound up creating a bottom in $GOLD and I would suspect this "noise" with the Euro could do the same.
At the same time, it's clear who's in control of the Euro, and whatever will happen, will happen as they see fit, over the long-haul, the Euro will enter a period much like the dollar has over the past 4 years where it declined, and I don't see this period far off, I expect it to happen by 2008. Anything here is just short-term noise.
As far as the Euro dropping here off of a France no, it may actually fit into what I see happening with oil, the dollar would rise, oil would sink, the mass media wouldn't blame it on dollar strength but a "slowing global economy" and thus the bear market would be born by mass media conditioning.
So, the France no would actually fit into the cards here, but I've honestly not been paying too much attention to the hype & noise, just the charts, and the Euro does seem to be hinting at a flush-out wave to the downside that is imminent...
A move to 1.22 Euro wouldn't surprise me...
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At the same time, it's clear who's in control of the Euro, and whatever will happen, will happen as they see fit, over the long-haul, the Euro will enter a period much like the dollar has over the past 4 years where it declined, and I don't see this period far off, I expect it to happen by 2008. Anything here is just short-term noise.
As far as the Euro dropping here off of a France no, it may actually fit into what I see happening with oil, the dollar would rise, oil would sink, the mass media wouldn't blame it on dollar strength but a "slowing global economy" and thus the bear market would be born by mass media conditioning.
So, the France no would actually fit into the cards here, but I've honestly not been paying too much attention to the hype & noise, just the charts, and the Euro does seem to be hinting at a flush-out wave to the downside that is imminent...
A move to 1.22 Euro wouldn't surprise me...
HI-HO SILVER !!!
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