Wednesday, July 02, 2008

FXE--Thursday I think market closes 10:00 pst

this trade is for any 6th graders that might be following my blog---

DIA--109.7, after that it's up up up to the middle band BB13--good chance relief rally starts Monday---MOnday or next week USO should go down 5% or 9%---cause it's after the holidays

USO usually comes down after the holidays, so that might be when the relief rally starts

Dollar is important to a lot of commodity markets. The European Central Bank (ECB) will meet Thursday, July 3, to decide whether or not to raise its interest rates. It’s widely expected it will increase rates to 4.25 percent to curtail inflation. If that happens, I expect the dollar to decline and the Euro to rally. That could result in a run-up in commodity prices, including crude oil, which seems to be a new vehicle for inflation hedging.
By raising rates in Europe, we could see the FOMC raise rates in between regular meetings to prop up the dollar and address inflation in the United States.

USO goes up and it's hard for stocks to go up
So thursday, like beannie always says--is Bloody thursday, or some such

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