Tuesday, September 2, 2008

Euro, Oil and gold continue sell off

The dollar continued its rally as the Euro fell below 1.46. Crude finished at $109 and gold at $808. It looks like tough going the rest of the week with more downside risk than upside potential.

The earliest chance for a meaningful bounce in commodities will likely be next week. I still think there is significant upside here in the Euro, Oil, and Gold but we may have wait a little while longer.