very nice read on the dollar!
there was(is?) a lot of profit in that, nice one.
if i seem adversarial at times, pls forgive me, its just that, as i told you, i grew up in the trading world,and i reached a point in my life, where, i lost my appetite for any undue risk. You're cup gets filled up, if you know what i mean.....so, i dont mean any disrespect or ill will, in the final analysis, and if it seemed like that, its my intemperate use of words and sentiment.
two things, one an observation, i was looking at the weeklies on Ag, comex, and it looks like we have a dome, with both ends at 26, which to me seems bullish. whadya think? the way i look at it, the more we band up in the 26-30 range, the more power to the potential upside uncoiling.
the second thing, i was reading about an ETF the "EUO", which is called UltraShort Euro, it was trading at 22, assets 800mln. Now it seems to me the 'slam dunk" trade everybody and their mother is in, is short the Euro. Everybodies short the Euro, and you know what happens when everybodies in..........so just a heads up, this EUO might be the ETF to pound on. i'm not in it, course not, just putting it before you and any of our bro's.
reasoning? look, lets say Greece goes bye bye out of the EU, the conventional wisdom is a further Euro beating, but i think its the new drachma thats going to be worthless, hence there's a possibility you MIGHT get one of mother king hell short covering rally in the Euro, maybe back to 1.30, which would slam this ETF, the EUO.
anyway, Jon and bro's blessings to you all, i'm going to go skid logs and burn brush.
oh btw, a bit of father boasting, my 16 uear old boy, on his own, no pushing from me, has been involved in some website stock mock account, kinda of like a game, but it mimics a real account, margins, charts, everything. 86,000 people are involved, paper traders, whatever. the lad calls me, and asks "guess how i rate?" i guessed, "500th"...."Daddy, cmon!" the lad ranks 30th out of 86,000.
my heart swelled with pride and i amazoned him a whole host of classics, "Reminesces of a Stock Operator". Marty Zweigs book, the only authorized biography of one the greatest traders, Marc Rich and the REAL magilla, "Merchants of Grain" (1979), but still fresh today, imo, its a neat account of how the very private Big Five grain houses operate. i'm trying to gently guide into the world of global grain trading, cash and futures....anyway, i had to brag a bit, i'm proud of a 16 year old, who shows the interest and aptitude...so proud, you men with children understand, neil