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Friday’s low at 82.08 fell within 0.08 points of minor Hidden Pivot support that so far appears to be doing its job. The bounce will have to clear 83.51 to look like the beginning of a real turnaround, however, and my hunch is that it will fail. I don’t usually cite “fundamentals,” but in this case European intimations of “austerity” should suffice to put a lid on the dollar, even if it’s “too-big-to-fail” appeal will likely remain as a rationale for more than a mere handful of institutional lemmings.
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Summer Heat Brings Tabloid News to a Boil
by Rick Ackerman on July 19, 2010 1:37 am GMT · 8 comments
It’s high summer here in Colorado, with the mercury at 93 – possibly the coolest day we’ve logged all week. Our car thermometer registered 108 yesterday, but surely this was a mistake? You don’t hear many complaints, though, probably because the humidity is so low hereabouts. In the winter, with the heat cranked up on a cold day, we’ve seen the humidity fall below 10 percent inside the house – practically as dry as the Gobi Desert. On the comfort index, a 93-degree summer day in Colorado feels like maybe 77 degrees in Baltimore. When we moved here from San Francisco in 1999, many of the things we brought with us that were made of laminated wood dried out and cracked after a few years: cutting boards, a coffee table, dining room chairs. Anyone planning on moving to this region of the country with a Bösendorfer should consider selling it and buying » Read the full article