Currencies sold overnight…  But rebound in early morning trading…  China throws cold water on stock values… German exports rival the Big Kahuna! And Now… Today’s Pfennig! Good day… And a Terrific Tuesday to you! I returned home from San Francisco last night, and am back in the saddle today! Not the way I like to travel, where I get a day when returning home to recharge the batteries, but it is what it is… I did an interview with MarketWatch yesterday morning, talking about… Well, what else? The deficits, and diversification! My presentations in S.F. were well attended… On Saturday, my power point froze up, but I carried on in spite of the technical difficulties!

You know… I really, heard a lot of people talking about the rumor / conspiracy story that there will be a bank holiday at the end of the month (this weekend) and the Gov’t will announce major changes to

Bias to sell dollars fades away…  Trading in yesterday’s clothes…   More thoughts on China…   Shadow Inventory… And Now… Today’s Pfennig! Good day… And a Wonderful Wednesday to you! Tuesday ended up being a very nice day, except for the currencies. After signing off yesterday and telling you how I had watched the euro climb back to 1.4025, it just couldn’t hold that figure or add to 1.4025.. And all the thoughts that had held the dollar hostage earlier that morning, being the China going to G-8, and so on, just faded like a black shirt put through 100 washes!

So… When I came in on Tuesday, the euro was 1.3920… When I came in this morning, the euro was trading 1.3925… Trading with yesterday’s clothes on. Back and forth, back and forth, the currencies seem to be in a rut… So, what happened to all the thoughts yesterday that China was making its first

Foreclosures rise…  Green Shoots, no so green!  Getting on a bus…  Losing a triple A rating? And Now… Today’s Pfennig! Good day… And a Wonderful Wednesday to you! Not wanting to start the day off with bad news… But I just saw a flash on the TV that said, “foreclosures jumped 32% last month”… More Blood in the Streets, eh? That just happens to be the title of my presentation today… Blood in the Street: Bargain time or just a cease fire? Hey! I don’t make these things up…

OK… Another day here in Sin City… This city is packed with people, everywhere

Currencies trade in a tight range…  China…  Commodity prices to blame…  “Safe” Treasuries? And Now… Today’s Pfennig! Good day… And a Wonderful Wednesday to you! Well… I went “shopping” yesterday evening… At least I can say I did my bit to keep the economy afloat! HA! Thanks to all who sent along notes to me yesterday with kind words. I truly appreciate the kind words, you are all too kind! The automakers made their pleas to Congress yesterday, and they claim they are in deep dookie! GM says they need $4 Billion right now! And… The original $25 Billion figure has grown to $35 to $40 Billion…

The currencies were lifeless yesterday, with only

Fed cuts rates 50 BPS!…  Currencies rally Big!…  3rd QTR GDP to go negative?…  I.O.U.S.A. … And Now… Today’s Pfennig!

Good day… And a Tub Thumpin’ Thursday to you! It certainly was a Tub Thumpin’ Wednesday for the currencies, foreign stocks, commodities, and the Philadelphia Phillies! This by no means that the deep dense fog that has hung over the markets for 3 months has lifted for good… It did, however, lift for one day, and what a day it was!

Oh, and the Fed did indeedly do cut their Fed Funds rate to 1%, which works out great since Fed Funds had been trading at 1% anyway! I had a reported from Dow Jones call me a few minutes after the rate cut and ask me my opinion on what the dollar was doing, which at the time was rallying back a bit… I said it looked like a classic case