Quote:
Originally Posted by J. Abizeid  Please don’t take it personal but in view of today’s realities, would you reconsider?
Below is my quote from just a week ago when I sounded so unrealistic.
Based on the facts on the ground I doubt the euro will ever go down to $1.38 again but it’s a matter of a few months before it beats its own record again.
And yes, timing of the US elections has everything to do with it.
Just a few days ago, oil surged up to $130 which proves there is no upper limit for oil prices. They drive it up when they need the money. They keep it down when they need your vote. |
I don't find any reason to reconsider. All I said is that things are bad on both sides of the Atlantic. While, I honestly feel that the US is in huge trouble due to the dumb Bush policies, Europe is also in shambles. I just returned from Europe today and I can assure you that the word I heard the most during my trip is "catastrophy".
I still feel the euro/dollar exchange rate favors the dollar more than the euro and still believe we will see the levels of 10 days ago with a few jitters along the way. For oil, it is a totally different story and this is where I am reconsidering. I believe the levels of USD90-95 of 10 days ago will be very hard to reach again. I see it more in the 105-120 range in the short term and in the long term (2-3 years), I see it at 140-150