I think the EURO has more downside risk than upside at this moment. We should see it testing this support at $1.32
What happened to QE2 cheap money?
TEPPER IS AN <><HOLE.
He used CNBC to pump the markets, and he managed to dump his shares during the pump.
But is the TEPPER trade going to work? That’s more important.
Studying the QE2 idea is really too complicated. But the idea is that interest rates will drop as treasuries yields go down.
Investors will shun these treasuries and move on to risky assets such as FINANCIALS, COMMODITIES.
QE2 will not really devalue the dollar that much. Reason being that if QE2 can induce greater growth, then the dollar is going to remain stable.
I see the dollar strengthening again tomorrow and perhaps the market will bounce on Thursday when the job figures come out again.
The idea is that investors are waiting for Thursday’s job news before making their decision.
Market should range bound lower tomorrow as traders are taking advantage of weakness and they will definitely try their hand in breaking the pscyho barrier 11000!
BESTBUY at union square. Good stream of customers at 6pm today. Union square is as busy as ever.
And my favorite … financials
BANKING Reinvented… Coming Soon (a rally!)
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