35:1?

I think that the only thing you may have missed was the fact that the proping up of the Peso through Smoke and mirrors shouldnt have happened. Gave everyone another chance to just escape more pesos in to more dollars. There was NO basis for the dollar to fall in value against the Peso. It probably will go to 40 in short order.

The peso's kneejerk reaction to the upper 20's, accompanied by real or imagined government/IMF intervention, has apparently been completed.

That doesn't necessarily mean that it's ready to go to new lows above 40 or so, though. Fluctuation is normal. I doubt that it will break 30 again, either officially or on the street, but I expect it to make a few false moves before finally going to new lows.

As always, there are no guarantees.

Nothing goes up or down in a straight line. If you bring up a chart of the peso against the dollar for the past 2 years it is obvious that it will not begin to strengthen but will continue to gradually become weaker with little spurts of strength giving the false impression that it is beginning to turn. Sort of like small bull markets within a bear market like we witnesses with the stock market from 2000 to earlier this year.The upturn is quickly followed by a steeper downturn setting new lows. Anyone who converts dollars into pesos to get the higher yeild is making a mistake. They made a mistake when the peso was 15 to 1 and they would be making a mistake now.
Larry

hmm

Just wait until all the reserves are used and people see the real books.


35 is going to be a nice memory, Erickson said something about 50, I used to think is was aggressive....now I don't