Sunday, November 26, 2006

Thanksgiving Slaughter...


...so the double edge of Illiquidity and the Stop Hunters shot the dollar down quickly since Thanksgiving... the Euro is now at the 76.4 retracement from its sell off high around 1.3600 down to 116.00 handle, in that 'sky is falling year time of 2004-2005... trading now around 1.3146... keep in mind that the Yen at that time was trading around 102.00 the last time the euro was at 1.3600; and is currently still trading around 115.00. Some big data this week, if short dollar covering takes place I'll short on pullbacks, if not, then go with the floodgates on Monday when the big players come in to see the mayhem.

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