MARKETS---Currencies

Has the dollar bottomed? Perhaps. The trend is shorter than many but right for many others. Swiss Frank at 80 is a good top and we are about there. Euro has no record of trading at all. The usual G-8 interventions haven't happened this time perhaps because they finally figured out that interventions don't work. What may be at work here is that the Fed has flooded the world with dollars and has now stopped. Foreigners are loaded with cheap dollars that they will now spend like drunken sailors, hopefully right here.

The EU monatary policy is frozen because they simply cannot act; East German strikes may wreck what is left of "the largest economy in Europe", the French strikes are symbolic of the desires of the rest of Europe's population for early retirement without paying for it, and increasing Muslim populations bode further problems there. The Euro can't hold value for very long.

I am about to short the Euro with a small amount of change but I hate all the currenciy exchanges other than the Merc. Generally you get two chances on this and I'll wait for the second; if I miss it I miss it.