All Clowns Must Be Destroyed Message Board

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Pastimes : All Clowns Must Be Destroyed

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To: BGR who wrote (37364)	6/2/2000 12:09:00 PM
From: pater tenebrarum	Read Replies (4) of 42523

absolutely. btw, the final 10-cent decline in the Euro can probably be ascribed to the unwinding of hedge fund positions. the early position takers based on fundamentals (the fundamental in question being the horrendous deterioration in the US current account)were being squeezed out. now that they are out of the way, the move is being retraced with lightning speed. my guess is that at the 102-104 reaction high, the Euro carry trade will begin to be forcibly unwound as well. then you're going to see a one-day move of 10-15 cents, same as happened with the Yen. we can revisit this event as well once it has occurred. btw, i expect the recession to be the worst since 1974....

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