20100720 1702 Right now many market experts are pushing for the 'double dip' recession, hence the excuse the markets will 'plummet'. Cast our minds back to a few weeks ago when they were piling in the shorts on the euro, citing the European debt crisis as to why the eurozone economies will fall into an abyss and the euro will to to 1.00 vs the US dollar. Well, the daily chart of eur futures show the folly of believing doomsdayers... Wonder how the double dippers will fare... Oh and when they are wrong, they call up their friends at Moody's to 'downgrade Ireland by 2 notches'.

I recall that Jim Rogers took longs on euros, as 'most people were heavily short', somewhere on the Left hand side (around 1.2600) of the chart. Jim, you'd better get Marty Schwartz on the phone and beg him to teach you the market timing technique, then you wouldn't endure the fall to 1.20 before coming to today's level near 1.3000.

The markets globally are interrelated, albeit commodities, stocks, fx or futures markets. Even if one just dabbles in Malaysian stocks, one needs to be aware of the trend or non trend in the fx markets. Trading in a vacuum will only result in disaster.