John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Stoctrash who wrote (10869)	12/10/2008 11:36:48 PM
From: John Pitera	Read Replies (2) of 33421

A Major turn in the USD ...... the preliminary evidence is in. I probably will not have time to talk about this in that much detail, but the Buck is rolling over here. Very bullish daily formations on the Eur/USD; AUD/$; British Pound still looking iffy....... all that London based securitization still haunting the UK. I strongly feel that the EUR/JPY has looked the best for the EUR that it has all year. I was very bearish at 1.60- 1.70. Now times are changing. And my thought that the last 25-30% down in commodities was due to the overramp of the USD due to the complete lock-down in Commercial Paper, LIBOR-OIS, TED Spread, over night lending.... the entire panoply of money and credit markets that shut down. oh yes, and Crude is just a rip roaring buy in here. Rip Roaring.... Dennis Gartman finally let me down on his explaination of the crude contango trade..... Maybe that can be a follow up post, over next few days. just wanted to get my heads up out there and Mr. Rick ---- the stocktrasher was johnny on the spot asking about this turn in the buck this past week; so many kudos for the heads up. John

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