Euro Could Yet Surprise the Skeptics
"One way to stop a runaway horse is to bet on him." -- Jeffrey Bernard
Last month I argued that a significant short squeeze in the euro , given severe bearishness in the currency, could result in a V-like formation in the currency relative to the dollar, or PowerShares DB U.S. Dollar Index Bullish (UUP). For some context, following May's mini-correction I immediately began to stress the idea that various intermarket trends had behaved as if a Lehman Brothers-like event had already occurred, when in fact one had not. Last month ended up being one of the best Junes for equities in over a decade, but we did not see the "mother of all euro short squeezes" that I had believed was likely....275 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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