Euro December futures just shy of 1.30 at 1.2962. The dollar has fallen out of bed, finally confirming what bonds have been saying for some time now.
It will be interesting to see how they will spin equities out of that mess. SPX could very well have hit its high for the year or close. Maybe a pop to 1413, but a reversal is not far. Shorting rallies has been a great opening trade for the past few days, which indicates distribution. Of course, buying dips has worked just as well, but I am less interested in that trade these days.
It will be interesting to see how they will spin equities out of that mess. SPX could very well have hit its high for the year or close. Maybe a pop to 1413, but a reversal is not far. Shorting rallies has been a great opening trade for the past few days, which indicates distribution. Of course, buying dips has worked just as well, but I am less interested in that trade these days.
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on Wednesday, November 22, 2006 at 11/22/2006 10:19:00 AM.
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