21.11.07

Has the USD hit rock bottom?


The USD bottom arrived in the mail today in the form of the cover of the Economist. Like the pundits exclaiming gold was headed to 2000 per ounce in May 06 (it may well be, but in the intermediate term at least, that signaled the top of the move) I think this could be a strong sign that we are oversold at these levels. When super-models, rappers, magazines and dictators are all at once signaling the imminent demise of the USD, it makes you start to wonder....I'm thinking mean reversion at the very least.

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