The end of the Oil Bubble (31 Oct 2008)

The sequence of events happening for the past few weeks have been amazing.

Most foreign banks have cut their rates with the exception of the ECB. This is going to put a lot of pressure on the EURO, be ready to see EURUSD fall to below 1.20.

Here is a chart of FXE showing the possible targets.


We might see some window dressing today, but Monday could be bad for commodities. So if you bought any shorts on commodities either add onto your positions or hold on to it.

Here is a chart of SPY to provide an alternate view as compared to my previous post
I suspect, window dressing activities might lead us to about 105.


Stretegy: Adding more DUGs, SMNs once SPY hits 105.