It's not really about what Ben says, it's what he does in his
back room -g- Given where the dollar is, I think he may think
a bit before going to the back room, even though it's time,
so for now a "save" for the dollar
through the market dip may be attempted. Stuff won't hit the
fan until the dollar starts dropping rapidly through 80, though,
so this is likely a buyable dip, I think. Stuff could finally
hit the fan this Fall. There is only one futures buyer, so when
that buyer fails, beware of rapid moves -g- This market is very
nuts though, so unexpected stuff can happen at any time. -ggg-
I would not be surprized if there is no dip at all, and the
Fed just goes to the back room. Then we have to watch the dollar
closely, the BK could arrive when it breaks the 80. It will
start dropping when it notices Ben's hilos -g-
What Ben does in the back room is really the only thing that matters,
IMHO, and I have no clue what he will do now, just "if"
"then". The back room is in a bit of trouble, the dollar
is very low, rates are too high, but they will sure try to
hold the mess together as long as they can. |
