The Euro Crumble Continues

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Ummm, I thought we'd get a few weeks – maybe even a few months – of a rally in assets, but it seems to have lasted about as long as a 16 year old boy at the end of a really successful prom date.

I sold all my longers earlier today (almost all of them profitably, particularly TBT), but I am remaining cautious on the short side. As of this writing, I am 30% committed, 70% in cash. It's pretty stunning how the Euro is simply unable to get off the mat. Here, yet again, is my long-term target for the Euro: