yank

Will the ECB Send Emerging Markets Down This Week?

The USD is quite "overbought" at these levels. There is extreme resistance at the 78 level and we haven't even factored in the Fannie/Freddie meltdown which will end up having the US taxpayer "backstop" over $5 trillion in mortgages. The latest move up by the dollar is a cyclical bull move (temporary) within a secular bear market. The USD remains in a confirmed long-term downtrend. The economy remains weak (despite the latest 3.3% GDP fantasy numbers) and most intelligent people like Buffet, Gross, and others are saying it will be late 2009 or early 2010 before we see a sustained recovery. You people are engaging in a lot of deperate "wishful thinking". That just does not get it done in this tough stock market. Commodities are oversold and will resume their confirmed uptrend before the end of 2008. The commodity bull will die when EVERYONE on Wall St. is onboard with commodities. That simply has not happened yet.