I was more than a little surprised to glance at my iPad at 4 in the morning and see that the entire Euro-Plunge had reversed. As the quote on ZH puts it, “After Brexit, it took three days for markets to shake it off, with Trump it took three hours, with Italy it took three minutes.” So here I am banging out a quick post.

As stated in my Sunday post, “I had thought – erroneously, it seems – that we might get a bit of a bounce” – well, I guess it wasn’t so erroneous. I’ve got a big short position on the UUP, so maybe that’ll work out after all. To be clear, my long-term view on the Euro is unchanged (which calls for weakness down to parity). At the moment, though, it seems that everything is green, with the exception, of course, being gold… guaranteed by federal statute to fall every day no matter what the markets are doing.