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Please look back at the post I made just a couple of days ago... what did I say?
The dollar is in the midst of almost comical rally, closing above 80 today. Horrible data is coming out all over the place and it's not getting better any time soon. Have the dollars fundamentals changed? No, other currencies are melting down around it and the usd is being seen as the lesser of several evils. Let's just keep in mind the race to the bottom is just that...... the bottom. There's no winner when you get there. As I said before gold will be pushed and pushed to that 950 mark and here we go. Nothing has changed, this is going to be a volatile and historic ride.
Gold will soon see record levels and those that stay the course will be rewarded for their courage and insight.
So what did I do today? Well I sold a whole lot of my oil and nat gas longs and went short on oil AND banks. I will hold these shorts until I see what comes around over the next few days, I'm using them as a bit of a hedge, but I felt greedy and got a little hungry for some risk so I swapped everything this morning and I will keep an eye on it. I'll try to make a little on all this volatility.
The DOW will test 10,000 tomorrow and it will be very interesting to see what the feds will do. This is a huge psychological barrier and they would rather not put it in the books if it can be avoided. More "liquidity"? Let it ride? I dunno, but I have a feeling the greenback is going to get thrown under the bus in order to save the DOW, we shall see. When the dollar rally loses it's legs I will yank my oil shorts and run back to the long side of commodities. For now I find myself on the opposite side of where I have been sitting since oil found a bottom some months back.
Lots of bad news will come out soon, increased unemployment, bankrupt states, bottoming interest rates does anyone honestly believe the worst is over?
Quote
Gold with test the 950 to 1000 range soon
The dollar is in the midst of almost comical rally, closing above 80 today. Horrible data is coming out all over the place and it's not getting better any time soon. Have the dollars fundamentals changed? No, other currencies are melting down around it and the usd is being seen as the lesser of several evils. Let's just keep in mind the race to the bottom is just that...... the bottom. There's no winner when you get there. As I said before gold will be pushed and pushed to that 950 mark and here we go. Nothing has changed, this is going to be a volatile and historic ride.
Gold will soon see record levels and those that stay the course will be rewarded for their courage and insight.
So what did I do today? Well I sold a whole lot of my oil and nat gas longs and went short on oil AND banks. I will hold these shorts until I see what comes around over the next few days, I'm using them as a bit of a hedge, but I felt greedy and got a little hungry for some risk so I swapped everything this morning and I will keep an eye on it. I'll try to make a little on all this volatility.
The DOW will test 10,000 tomorrow and it will be very interesting to see what the feds will do. This is a huge psychological barrier and they would rather not put it in the books if it can be avoided. More "liquidity"? Let it ride? I dunno, but I have a feeling the greenback is going to get thrown under the bus in order to save the DOW, we shall see. When the dollar rally loses it's legs I will yank my oil shorts and run back to the long side of commodities. For now I find myself on the opposite side of where I have been sitting since oil found a bottom some months back.
Lots of bad news will come out soon, increased unemployment, bankrupt states, bottoming interest rates does anyone honestly believe the worst is over?
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