EUR

cat, thx for algo link, all a bit beyond my 68yr old grey matta.

technically speaking the EU is approching next line of daily chart resistance at the 1.3175 level. It be a prior pivot high coinciding with a 78.6% fib level and 100BB upper band, if u value such devices. Anyway---just sayin.

@zerohedge

Bank of America net Q3 PIIGS exposure $11.5 billion, up $1.9 billion from Q2, driven by $2 billion increase in Italy exposure

yes agree, all solutions to the real problems for securing the future of mankind are whitewashed :-)

yes George, the oil, copper and transports are a better indication of the macro economic health of the global economy. Even so they are subject to spin off from the manipulations of stock markets, which in real terms should be valued less than half their current levels. Stock market values bear no resemblance to the underlying macroeco malaise, therefor we are all playing a silly game of make believe. Same thinkin here for the pound and the euro which are flirting with cloud cookoo land. So I guess it doesn't really pay to do too much thinkin about "value". Trading price action has to be king imo, unless one has a special short term speciality a la cat. Investing is a mugs game, we now live in a world of HFT and robots in which the average duration of an NYSE stock investment is 25 seconds. What would Ralph Nelson Elliott say about all this were he still alive. I feel him turning in his grave.