Apologize for being late as the last 24 hours market activity have been very interesting indeed. The reason is that I officially opened my own company today Lundgreen’s Capital. The press releases went out here in Denmark today and the marketing started at the same time. It has been a very busy day as more people than expected reacted on the opening. The broadcasts outside Denmark is tomorrow Friday.
But we had Mr. Bernanke yesterday, mainly as expected and the housing numbers higher. I will revert to those two things briefly again tomorrow. Market participant are still reducing short USD positions ahead of the year end, seriously hurting my idea about a short term move towards 1,4750. The stocks are moving as expected with nervousness about corporate earnings. That is a much more fundamental concern, and right so. Corporate earnings can actually be satisfactory under the current circumstances, but investors have priced a rebound in – too early.

Peter

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