Thursday, October 21, 2004

To Intervene or Not to Intervene, that is the Question...

Macedon's crystal ball says there will be no near term intervention from the Bank of Japan. Certainly not before the U.S. presidential elections. Intervention will not be good for Bush, in that it will reak havoc on domestic manufacturers. And Prime Minister Koizumo is a heavy Bush supporter, seen at the recent ALCS, cheering on those damn Yankees. The Porcelain Doll predicts a stalling at 107.00, 105.00, and then a tumultuous crash to 103.50 levels... by year's end. Recommendation: Build Short Position in Usd/Jpy on every pull back. This is going to be LOUD. Santa Claus is coming in the form of a fat jap with a dark black paintbrush textured beard.


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