"Well... The sunshine for the euro only lasted about 12 hours... Yesterday, when I signed off, I said that the euro had come back from 1.3094 to 1.30, and we would need to see what the NY boys and girls thought of the aid package to get a clear direction for the euro... Well, the NY boys and girls didn't think much of the aid package, and their feelings were soon to show up in the currency trading... Almost all of the euro's gains, and those of the other currencies affected by the Eurozone problems, were wiped out... Completely! The euro is now trading lower than it was when we left for happy hour on Friday afternoon! UGH! But... Shoot Rudy, I said yesterday, that while I liked the package for its calming affect on the markets, I didn't like it for the debt... Well, the calming affect is gone, so we're left with debt...

Yesterday, I said that the aid package was "holding off the wolves"... It looks like a case of the wolves are always at the door...

To recap... Yesterday... The euro lost all the ground it had gained after the aid package was announced on Sunday. The NY traders didn't like the smell of the aid package, and took the euro to the dog house, along with the other currencies... The dollar, yen, and Gold were the winners... "