Tuesday, January 24, 2006

Intellectual Honesty Update

OK, I' getting smoked on my bearish call on the USD. $1.15 for the Euro looks nutty right now, based on recent trading. Today, the currency market bought the European line of rising rates hook line and sinker. Color me skeptical. The currency yahoos trade on the day's news b/c they need to have cash in pocket for the weekend and if the Italian Finance Beaurocrat says that the ECB will raise rates, well, they'll go along. I find it hard to believe that the ful ECB will continue raising rates when the most excited that the likes of Germany can get is projections of GDP growth moving from 0.7% to 1.0%.

But fair is fair, I'm underwater and looking stupid for my $1.15 and $1.10 predictions. But stay tuned. It ain't over.


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