Emini Trading Update – Wednesday 9 Nov 2011 (13:08)
Only 1 thing to say: cyclical resistance on weekly chart.
Links of the day …
Good article in WSJ on How to exit the Euro and what would happen – in short, a bloody nightmare. You think the riots are bad now, you ain’t seen nothing yet.
Another good article from Edward Harrison on Business Insider, talking about the ECB’s dilema: Austerity or print Euros.
Marc Faber thinks all central banks will eventually give in to the pressure and print – leading to higher asset prices, higher gold, lower currencies (depending on how enthusiastically you print) and maybe even hyper-inflation. But the Germans love their rules, plus they have actual experience of hyper-inflation.
Sitting here in Europe no one has yet mentioned the other “brilliant” invention of the Euro-zone: no borders and freedom of people to move between countries. What would you do if you were 25, unemployed, living in Greece or Italy. I tell you what I’d do – learn English and get the hell outta town. Interesting side note: last time I was in London I was amazed at the number of young Italians serving in stores. Hmm.
Good luck with your Emini trading.