For folks holding lots of euros in the bank, 2010 has become "the year of watching my savings disappear."
When looking for stocks, commodities, or currencies to bet against, market expert Dennis Gartman recommends targeting assets that exhibit weak price action compared to their peers. This is like "throwing rocks into a wet paper sack," according to Dennis.
Right now, mark the euro down as the "wet paper sack" of the currency complex. We identified the euro's "1-2-3 top" back on December 16th. Just after that piece, the euro plummeted to the $1.42 level. It then staged a brief relief rally before heading back down.
Lately, the euro has fallen nearly every day with no support whatsoever. Currency traders: Here's your wet paper sack. Currency holders: Here's another reason to keep a good portion of your savings in gold.
When looking for stocks, commodities, or currencies to bet against, market expert Dennis Gartman recommends targeting assets that exhibit weak price action compared to their peers. This is like "throwing rocks into a wet paper sack," according to Dennis.
Right now, mark the euro down as the "wet paper sack" of the currency complex. We identified the euro's "1-2-3 top" back on December 16th. Just after that piece, the euro plummeted to the $1.42 level. It then staged a brief relief rally before heading back down.
Lately, the euro has fallen nearly every day with no support whatsoever. Currency traders: Here's your wet paper sack. Currency holders: Here's another reason to keep a good portion of your savings in gold.
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