short at 9120, page-4

Hi paul,

Looking at the data coming out of the US, the equities are more than safe - there is nothing to support buying into a USD rally whatsoever.

If the recovery occurs everywhere else except for the US, then this might be the best opportunity for the AU to break new highs into the 94's again, as commodities will be set to rocket on sustained demand.

It would mean China and EURO are trading more, and the China fairytale continues. Who'd have thought austerity would prove so successful?

If it wasn't in the charts, I wouldn't believe it. But I won't be falling in love with the idea that we've dodged a double dip bullet. A month ago businesses I know were looking at layoffs and extended holidays. Today they are flush with work and the phones are ringing.

Remarkable.
rgds,
pw