Euro dives. Breaks out of triangle.

Here the euro is breaking down out of a triangle.  These signals are usually pretty reliable– especially after preparation like that seen in this formation.  While signals during this period are treacherous — and given the euro situation doubly so –this one is worth a trade for us.

If you need any background on triangles it is in Chapter 8 of Technical Analysis of Stock Trends, 9th Edition.

Meanwhile back at the Dow….as we expected the market took a hit today and we bailed on the indices and the TBT.  It is quite astounding to us that the WSJ, the media, the Onion are all ignoring the game of chicken the turkeys in Washington are playing on raising the debt level.

At this moment we believe that the suicide bombers are going to force the shutdown of the government and the default on obligations.  God (Allah) only knows what the consequences will be.

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