Euro's Third Down Leg

@chloe: top line should mean more than bottom line, as it isdifficult to mess or fudge with the top line (sales are sales), but all sorts of accounting shenanigans can be done to manipulate a bottom line numer (earnings).

Ashraft stated earlier in his tweet: "brace urselves for the cacophony of Guidance EarningsEstimates WhisperNumbers ToplineEarnings Revenues Organic earngs, Post & PreTarp $$".

Personally, I love those organic earnings numbers.

Humurous watching trapped longs in trash gpd and eur bid eur 15 pips and gdp 20 pips when they were about to crack the 1.4500 and 1.6100. They act as of if their life depends on staying above these levels at ALL costs.

I just read a report from a MINDLESS analyst regarding aussie. This is typical: "auusie tangoing with copper prices, and and usd weakness means aussie could climb higher...WE ARE BACK TO THAT PARADOX, GOOD ECONOMIC OUTLOOK IN U.S., GOOD FOR RISK, SELL THE BIG DOLLAR, BUY THE RISK, SO THER AUSSIE, EUR AND METALS MAY BENEFIT.

Um, excuse me Mr. Analyst, didn't we just receive poor economic U.S. Data in the form of the NFP on Friday? So let me understand this, poor economic data in the U.S. is good for risk because the world is recovering ex-U.S., and good economic data is also good for risk.

This is the same nonsense they spewed in the late go-go 90s in the U.S. stock market to lead the lambs to slaughter in late 2000.

@ Pipped Off,

You may very well be right about a JPY sell-off in Asia - I don't know. My time frame is really based on days/weeks.

The must read and entertaining "Extraordinary Popular Delusions and the Madness of Crowds" (written more than a century ago) is being relived today and there are plenty of suitable precedents for Cramer and his like there ...

@ Pipped Off.

What do you think? Cramer (ex-GS) given the nod by his old pals there to squeeze the punters one more time ...? After the last couple of years one hopes people have become more circumspect about all these cronies. I guess we'll see just how much more froth can the market take ...