6 replies to this topic

[zedor]

A short squeeze has been engineered. And its working. Europeans banks need to replace dollars they lost in US mortgage backed securities that carried a prime AAA rating. The irony of ironies. DXY now over 81 and its August 2007

[eminimee]

http://stockcharts.com/c-sc/sc?s=$USD&p=M&st=1980-01-01&i=p71167645816&a=112557640&r=8474.png

[LarryT]

A short squeeze has been engineered. And its working. Europeans banks need to replace dollars they lost in US mortgage backed securities that carried a prime AAA rating.



The irony of ironies.



DXY now over 81 and its August 2007

Zedor,
My call early this year when dollar futures were at 83 was the dollar futures would trade below 80 by August and they have, twice, 0n 7-24-07 at 79.87 and on 8-06-07 at 79.86 so wipe that smile off your face and quit trying to say the dollar did not trade below 80 by August. Now that the dip below 80 has occurred the down trend from 92 can have a bounce rally the 82 zone.

LT

[zedor]

Zedor, My call early this year when dollar futures were at 83 was the dollar futures would trade below 80 by August and they have, twice, 0n 7-24-07 at 79.87 and on 8-06-07 at 79.86 so wipe that smile off your face and quit trying to say the dollar did not trade below 80 by August. Now that the dip below 80 has occurred the down trend from 92 can have a bounce rally the 82 zone. LT [/quote] Did you close your shorts on the dollar on those two split second forrays by some still not mentioned futures? And if I recall the prediction was for deep into the 70s not dip its toe in for one microsecond. I stand by my analysis both fundamental and technical. Fundamentally: the powers that be will not allow the dollar to collapse as it would not allow further empire behaivor. So they will sacrifice whatever they have to to keep the US the preeminent empire and that requires a world reserve currency not monopoly money. Technically: After becoming exceedingly oversold the dollar has put in a double bottom (daily time frame) and also one on a larger one. So from a TA point of view its going up. And 82 should be but a speed bump. Lastly the current debt orgy that is entering its unwinding phase is not going to allow debtors off the hook with easy cheap dollars. As witnesse the Europeans they have to scramble to get dollars. So its off to the races. Given all the dire predictions of the collapse of the dollar it has not done so and the big story is it is UP not down.

Edited by zedor, 14 August 2007 - 07:41 AM.

[Cirrus]

Nice chart teaparty. I think a little rally in the buck could be upon us, too. Especially with the Fed remaining relatively stingy while allowing the other banks to print the money.

[Trend-Shifter]

Gold loves 666. If it rises above that level and climbs it will predict the dollar drop. If 666 don't hold it will predict a dollar rally. I think gold will turn up today, up a lot! Right now it is down. My FF

[sglasson]

i think the yen is staging an even bigger rally - usd/yen down .4% to 117.78 - kinda steels the thunder