Well, the last 2 days are finally kicking my gold back up. I've been buying gold silver and materials (steel, tie, etc) to tie up my cash. I was a bit premature, bought almost 2 weeks ago, but they're now rising again. The cheaper the Dollar gets, the more of our materials other countries can afford is how I look at it.
Excellent Commentary.................................... For one thing...Do not get emotionally attached to any name labels on numbers.... The leverage present in the forex products is what exacerbates emotionalisms...and reaps havoc on drawdowns..... The Euro/Dollar labeled number could be viewed as a $120 stock....that may go to $105 or $135.....as blabbered about by WS pundits with no proof of previous performance.... This is like saying QQQQ at 43.42....may go to 38.00 or 48.85...during some future time frame....ie 2007... This long range idea with 2% leverage is a lot different versus 0% leverage or modest leverage.... ........................................................................................................
Thanks for the advice Magna...would you recommend Metals in the ETF form or Futures contracts? Although its just a factor of leverage I would guess, but whats your opinion. Thanks
I'm just curious here, so don't bash me. But didn't they call for a US dollar sell-off en masse in December of 2004? When the Euro hit 1.36, the WSJ and other sources were quoting figures of 1.40 or 1.50 EUR/USD by the end of 2005? http://www.elitetrader.com/vb/searc...by=lastpost&sortorder=descending&pagenumber=1 That's a link of this very site - a search I just did using "dollar collapse" and it goes back to 2002, with all sorts of posts from all of our lovely USD forecasters calling for the end of civilization as we know it. I know it might be different this time but come on already with the sky is falling. We've heard it before. We'll hear it again. If you REALLY want a good laugh, read this article: http://www.kitco.com/ind/Barbera/feb282005.html
And this post by "Darkhorse" (poster here at ET) who posted one of my all-time favorite posts on the USD collapse scenario:
One has to wonder how much of all of this conjecture about the demise of the dollar, and consequently the US economy, is tinged with just a touch of wishful, emotional, anti-Americanism fervor.
Agree - much of it is. The other part is all the gold and silver bugs rubbing their hands together in anticipation of a launch.