We got the nice dead cat bounce off 1040 area. We sold our longs a little early 1092 +/- but I don't think we'll be seeing the highs of April, but we may have a little more to go on the upside. The correction was a lot faster than even I had expected.
I do think we will grind lower with 2 steps forward - 3,4 or 5 steps back, all summer until the EU does some major quantitative easing (liek the US did in 2008/2009)
A few months back I thought we'd see a major sell off (this was back in Nov/Dec 2009) in the EUR and that the US $ was undervalued. This collapse of the EUR has been far more swift and violent then I expected - and the EU seems to be unravelling before our eyes. Like that Chinese curse says "May you live in interesting times"
Between 2007 - 2010 this market has been interesting.
By the way - there were 3 Chinese curses that went together - the other 2
May you find what you are looking for
May you come to the attention of powerful people
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