Friday, September 28, 2007
Apparently the European Union, with all its rules, regulations, centrally managed economies and money supply growth is becoming preferable to the US and its centrally managed economy, money supply growth and toxic debt. I am still short this piece of junk and none too pleased with the proceedings. Is this unexpected? Not really. So many markets these days seem to have a manic element that hurtles them to extremes before reversal. I could have used a bit more patience on entry, but it is a small position and is hugely outweighed by gold, silver and other positions that benefit from the sad destruction of Uncle Buck (and eventually the other worthless paper currrencies). Here is the Euro pushing the envelope of my stance.