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  • Dow hits 10,000 and the dollar is down...

    In This Issue..

    * Dow hits 10,000 and the dollar is down...
    * Return of the carry trade?...
    * Global Power Shift Index...
    * Goldman predicts a further fall for the dollar...

    Good day... It is a Thunderin Thursday here as the rain continues for another day. We have had a very wet two weeks here in the midwest, but the cold rain is finally supposed to stop later today. The currencies continued to their thunderin stampede over the US$ yesterday with several reaching fresh highs. The Dow Jones average moved above 10,000 again, so everything must be alright in the world economy now, right?? This morning the dollar bounced back up, but it looks like profit taking and not a more permanent trend. Lots to talk about today, so I'll get right to it....
  • GDP Does Not Compute, Will Robinson!

    In This Issue..

    * Currencies trade in a tight range
    * Pound Sterling, the star performer?
    * Something smells fishy...
    * Do you see trend with Gov. Reports?

    Good day... And a Wonderful Wednesday to you! We had a very tight range trading day yesterday in the currencies, which have left them trading in about the same clothes they were wearing when I signed off yesterday! We've got that to talk about, and... Another $2 Billion for the CARS program has been allocated... What a crock! OK, Chuck, slow down, you don't need to get your blood boiling this quickly, this morning!

    I'm writing from home this morning, as I have a meeting close to our old office, which means its not far from where I live, which is completely different from our current office location, which is, I'll say... Quite a distance... But, hey! I'm not complaining, just giving you the details......
  • Game On!

    In This Issue..

    * Risk Assets soar!
    * What's behind this stock rally?
    * Charts and fundamentals...
    * Aussie Consumer Confidence drops...

    Good day... And a Wonderful Wednesday to you! A total reversal of Friday's risk assets sell off was the soup du jour for Tuesday... This is beginning to remind me of a Wayne and Garth street hockey game... Here comes a car... Game off... Game on...

    So, as I just said, Tuesday saw the currencies trade right back to the levels they enjoyed VS the dollar last Thursday, before risk assets began to sell off on Friday. These are the types of trading patterns you normally see when the assets involved are getting ready for a break out... A jail break... Tonight there's going to be a jail break!

    OK, I'm not saying that the jail break takes place tonight, I just broke out in a song from the 70's... That's all... Seriously though, I hope we're seeing a return to fundamentals....
  • Today is Tax Day!

    In This Issue..

    * Currencies trade in a tight range...
    * All Risk takers... Out of the pool!
    * Retail Sales really disappoint!
    * A plethora of data reports today...

    Good day... And a Wonderful Wednesday to you! Well... It's Tax Day, and to keep with tradition in the Pfennig... Here are the Beatles...

    (if you drive a car, car;) - I'll tax the street;
    (if you try to sit, sit;) - I'll tax your seat;
    (if you get too cold, cold;) - I'll tax the heat;
    (if you take a walk, walk;) - I'll tax your feet.

    Taxman!

    'Cause I'm the taxman,
    Yeah, I'm the taxman.

    OK... Every year, I bring you a different part of that song, which was so prevalent in my mind as I wrote out my check last night to mail my taxes......
  • Gold Ends The Week Strong!

    * The dollar continues to rally... * No risk takers to be found... * Simply awful data yesterday... * Gold continues its rally... ** Gold Ends The Week Strong! Good day... And a Happy Friday to one and all! A Fantastico Friday for me, as it was a Tub Thumpin' Thursday as well! You see, I got the results of my latest scans yesterday afternoon, and my oncologist is thrilled! (as I too am!) This marks 1 year of clean scans, and if it weren't for this rogue metastasis in my left eye, it would be all seashells and balloons! I go on Monday to see if the blood clot that has made things difficult for me for 15 months now, has finally dissolved. If so, there's another biggie off my list! I have to personally thank God, who has chosen to cure me, and it's probably a result of all you wonderful readers that have sent along good wishes and prayers... I also thank my family for their support, and my doctors who have never once not taken the aggressive course to getting me well......
  • A Trading Pattern For Gold...

    * The currencies rally back! * The risk takers are back! * Mixed bag of economic reports... * A 'cross thing' for sterling... ** A Trading Pattern For Gold... Good day... And a Wonderful Wednesday to you! No ice this morning, thank goodness! Winter, in my mind, is bad enough without the slip-sliding away! Snow is one thing, ice is another and it's not high on my Hit Parade! Well, front and center this morning is a rally in the currencies that began yesterday mid-morning, and has carried through the Asian and European markets. I'd tell you why the euro is 2.5 figures above yesterday morning's level, but you'd laugh at me... No wait! That's what you're supposed to do, Chuck, tell the people what's going on! HA! Seriously though... I don't think you'd laugh at me, maybe the dolts that run trading floors around the world, or the pundits that write stories about the markets, but not me!...
  • Record day in the currency markets...

    * Several currencies go through record levels... * Bank of England cuts rates... * Yen and Singapore dollars move up... * Renminbi trades under 7......
  • Big Al Is Upset!

    * Currencies rally a bit overnight... * U.K. data sends sterling lower... * Pooled precious metals... * Oil hits $109!...
  • Oil hits $100

    * Oil hits $100 * Pound continues to get sold * Brazil Real at 8 year high * Aussie benefits from rising prices...