Monday, September 26, 2011

Some thoughts from another trader 9/26/11

Here are some thoughts from a hedge fund manager (J. Taylor):

... believes that Greece is going to default, that the euro will fall, and that the U.S. dollar's rebound has just started. It was his kind of week last week.

... positive on the commodity-based ones, such as the Australian and New Zealand dollars, despite their run-up. "We use commodities to forecast currencies," he notes. For instance, Norway's krone is a function of the price of oil, which he thinks is a solid long-term bet on the next growth cycle. In five years, he says, "we could see oil at $500 a barrel. I would be a buyer on dips of oil." But that's a trade for another week.

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