Wednesday, October 20, 2010

Dollar selling is crazed ...

... and no one seems to care what price they sell it as currencies are continually bid through offers. I still think that we are topping and high volatility is a sign of that, as are rapidly changing market opinions. I was stopped out of the Sterling position but have reshorted at 1.5850 and also shorted EURUSD at 1.3965. Truth be told, it feels yucky right now, but tops in these markets are usually profiled with sharp runs higher. I don't have a lot of tolerance for prices higher than these and it could be that the buck is just doomed.

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