Hey hey...its Tuesday....

Well...I m actually losing track of days let alone dates...so well...that could be a good thing then again....it may not...

Wow what a day in planet Forex!!!......The Euro took off like a rocket....it climbed up during the UK session and was sitting at some interesting points....US PPI came in at lower than expected...so I went long...the charts looked good......but boy did I not expect that....I thought it would test the 1.50 level during the week...not with in the session!!! anyways....anyways I doubt really the breach was on heavy volume coz of the time it did...but lets wait and see if its sustainable.......actually I think it was the GBP that led the way in the jolly march up...coz I look back and it appears a GBP long was taken way before the long on the EUR...so heck either way...blockbuster day.....in the EURO and the GPB......

CAD too had a very heavy day down.....I must say I hate to see the CAD gain strength coz everytime it comes close for me to go over there the bloody CAD gains.......of course there is a bigger reason for that as well....Canada's economy is heavily dependent on the US...its actually intertwined at the hip!!!......it exports most of its things across the border....60% of Canada's population is within 160KMs of the US border.......mmmmm...u think in these circumstances the Canadian dollar needs to be a bit weaker than the current levels.....I mean look at it this way...at parity....hollywood can say...heck we don't need to go to Toronto to film a movie about New York..lets film in New York.....so yea...all in all a stronger Canadian dollar is not in the interest of Canada....funny enough........The one thing Canada will always have to balance is with the high oil prices is the boom in Canada's economy....which invariably means....higher inflation.....which means higher interest rates....which mean......stronger currency!!!! what to do what to do...i pity the BOC..but heck thats what they are paid to do right!!!!!!

As for the US dollar...well....I always say...and people never agree with me..but f it I couldn't care....A weaker dollar in the short term is somewhat helpful to the US economy.....and the only reason I say this is........Every person in Europe wants to shop in the US!!! right? Plus the US exports a lot of services? ....it has a potential to somewhat offset the imbalance created by the lower value of the dollar...SHORT TERM....what the effects will be long term....i dunno...I can't think past friday nite...so I m the wrong person!!!......so in a funny way I think the US economy kinda hedges it self against nasty downturns ....its pretty dynamic in that way....but I m sure there are 1500 books over there that can say I m talking rubbish..but u know what....couldn't care less...

The question on everyone's lips these days......are we in a recession? Ask me that and I ll ask u a question...why would you care? knowing the answer is not gonna make us money.....trading what the market offers is gonna make us money......Jesse Livermore made his first killing in the market in a depression!!!!!.....remember....being bullish or bearish will NEVER make u money...being on the right side....that will make you money!!!..

Cheers and have a beer

Yours truly,

Countless Einstein