I am up way too early,...contemplating more put options. <g>
There certainly is pressure, Victor.
The IMF just cut them $1.5 billion worth of slack. That will help.
One thing is certain: without a substantial correction on Wall Street something more must be done, else the long suffering begins again for the Argentines. Let Wall Street correct, the dollar weakens, less pressure on the peso.
There's no reason to extend the current lunacy, which is exactly what the Fed has been doing. All the Federal Reserve needs to do is stop the credit expansion. It'll come down. People like Mr. Rubin, however, want everyone cut-free from the dollar. And his strong dollar policy certainly keeps the pressure on.
East Asian markets took a beating tonight. Long weekend, right? Things could come apart pretty fast, if someone (the Fed) doesn't step-in again today. That's been their pattern -- MWF.
Best o' luck,
Tom |
