Discussion in 'Trading' started by OPTIONAL777, Nov 15, 2002.
Any ideas about the charts in the following link?
CRB, GOLD, DOLLAR, OIL
looks like gold is headed to 345-350 in about 10 to 12 weeks...pm me after it hits...
timing a little off, but good call...
I know oil:
As you know from being in the chatroom everyday, the CRB index at multi-year highs has "worried" me for weeks now...
Oil and dollar are very dangerous markets right now. Oil is spiking on Ven. and Iraq concerns but the key fundamental is world demand, which probably can only justify $18 oil. At some point we will get a tremendous sell-off but only a fool would try to short it overnight until Iraq plays out.
I find the current weakness in the dollar against the girlie euro and the pathetic yen to be personally offensive. But you have to respect the trend. Yen could implode at any time, and the european economy has repeatedly shown itself incapable of justifying dollar parity. For now, I wait.
The dollar's been artificially overvalued since '96 (ever since Rubin engineered interest rate/gold divergence). Support at current levels require too much capital inflow.
All it would take is certain middle eastern countries pricing their oil in euros instead of dollars, and the game would unravel quickly.
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