It certainly looks like all Hell is breaking loose on the dollar index.
Forex trades offer *significant* leverage and if you can guess right on a directional move you can make a bucket of money really fast. you can also have your head handed to you if wrong.
Take a look at the last year on the dollar index. Almost makes me think that friday the 13th will be significant....it's now 2:30 a.m. NYC time
It really looks like it's getting ready to break down.
Unfortunately, I've been waiting for action similar to this month and last for two years, but i'm too busy working to take advantage with the house fund (yet). I will plan my attack and allocate funds this weekend...but for now it's in dollars!! (gasp! ) :)
In the past I was so anti dollar I would do anything other than hold dollars. But, even a ROUTE in the dollar can look pretty small compared to the 20% drawdowns in the metals or 40% haircuts you can take in minors or other nat resource plays that have been driven up.....so here i sit.
With any luck, if the mainstream media picks up on the acceleration to the downside of the dollar...big holders may decide to support it just a *little bit* longer before it breaks the all time low -- thus giving me a chance to setup for the wave.
No comments:
Post a Comment