Quote:
Originally Posted by Paq
Tully, if you look at the euro/usd, you can see it basing rihgt now, which is a perfect beautiful setup for the dollar to drop like a rock and we'll redo the 1.60/1 eur/usd of he summer...
yea, im stocking up commodities, too, but small positions, like every other stock right now...
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I show it at 1.25-1.30 today, seems awfully low to me. I'm kind of tempted to buy 20-30K in euros. Of course if I did that the dollar would almost certainly get stronger against the euro and I'd loose my shirt.
I am in a couple funds that are euros based. Every since a friend of mine lost it all (500K+ to 3,700 over night) to Enron I've been about as spread out as one can get.
Speaking of exchange rates- as many know I'm in Mexico. The pesos been dropping pretty fast, people here are starting to freak. Freaking and blaming the problems on the US. A lot of countries seem to blame the US for the current financial climate, I'm noticing a trend. So far this as been good for me- my rent, elect, gas etc... is all in pesos. So my rent used to cost me $300 a month now it's closer to $260. I think this benefit could be short lived. Eventually prices will have to rise and I'm just hoping when they do it won't be more dramatically then the dollars increased value.