Being short the US dollar was a popular trade, in a wide variety of ways, there was likely a lot of leverage to commodities and PMs as well as the structured debt crap ... and all had to go to USD as the first step in unwinding, the lowest common denominator yes, usually it's 'lowest' that gets stressed in that phrase
Got to stick with companies that can survive this, absolutely, cash in the kitty and the smarts to conserve it ... could be a while
My one tiny realised profit for months now came, oddly enough, from some USD i was carrying in a broker's account, using the credit in loonies, they let you do that, just charge more interest on the debit than they pay on the credit of course ... meant to do the exchange quite a while ago, never got around to it until the other day, got 1.18 something, spent it immediately on a few k of a beaten-up gold fave ... shoulda waited maybe, looks like they'd pay over 1.22 tonight ... geez, how far will that proceed in a straight line - currencies always overshoot, they say |
