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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?


To: ggersh who wrote (4981)2/24/2009 6:08:43 PM
From: RockyBalboa  Read Replies (1) | Respond to of 6370
 
The temptation is of course high to look for a bounce:

-the dollar failed to go much over Y97
-todays rallye is finished
-the eur, and gbp carry trades ain´t what they used to be (no interest income) they are trading feebly.
-one can not ignore the $index which sagged today.

-All told the world has changed. The 200p drop with the dollar not going stronger is a bit much.

On the other hand, the yen was probably "overowned" much like earlier Pound and Euro.