Lance thinks there is still plenty of downside left in the Euro. In this episode, Lance talks about the news that just broke about Fitch downgrading Spain’s debt, the second such downgrade in the last month.

If this isn’t bad enough, rumor on the street is that Greece is seriously looking at dumping the Euro and going back to the Drachma standard. The reason is that they could then inflate their way out of debt.

That’s the big uproar from many countries on the Euro standard is that they lack the ability to inflate their way out of debt like we do here in the United States. This is a powerful argument and may even cause countries to begin dumping the Euro.

But even if countries don’t start dumping the Euro, the Euro is way overvalued to the U.S. dollar. Today it sits at a ratio of 1.2 USD equal 1 Euro. I can easily see a return to the 1 to 1 ratio against the U.S. dollar. That’s a 20% move.

Lance tells you the best way to play the crisis in Europe and how to directly profit from the demise of the Euro and he performs technical analysis on the ProShares UltraShort Euro ETF (EUO).