Adopting a Wait-and-See Approach
If it weren't for the CurrencyShares Euro (FXE) down here at $131.34, I would be tempted to think that we could bounce right back. Instead I am worried about having to go to DEFCON 2 soon, which is what I said I would have to do if the FXE took out $131, the critical level we have bounced off of two other times.
Plus I don't like to see gold so low. It shows that the IMF isn't coming to Europe, and the printing of euros to backstop the countries that are actually trying to get it right isn't going to occur....100 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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