Short the dollar hard

Looks like Martinghoul has dissapeared!

Anyway, I can't take the pressure of all this long term trading, out for +650 pips....

 

Took out all 3 with a bang today:



Looking at how strong that break was, and how heavily USD-long several retail sentiment indicators still are, I'd say this selloff has room to run. Increased fiber and cable longs today. RIP 08/09 USD rally.

 

Nice break. I got out a little too early, but I don't regret taking my profits.

 

US AAA-rating might be cut. USD selling off hard.

http://www.bloomberg.com/apps/news?pid=20601087&sid=adgpSuBVsnlA&refer=home

 

The USD is dead in the water, there's nothing that will hold it above 80.

 

is this bullish for US stocks? is it the weak dollar that does not allow us market to correct to the downside?

 

yes

the dollar is falling rapidly, even though ECB recently cut it's interest rate to 1%

 

Weak dollar increases commodity prices and commodity stocks. So you will get a rally in these stocks, and any stocks that benefit from sales of products in other currencies. A lot of large cap stocks are conglomerates that sell mainly outside the US.

 

You guys must have been listening to Jim Rogers and his 'currency crisis' prediction

So far it looks more like profit taking on the slightly unjustified recent dollar rally. Don't forget just a few months ago Eur/Usd was 1.60 and Gbp/Usd was over 2.00 so it's hardly a collapse or mass dollar exodus, it's all fairly orderly and technically 'correct'.

I don't see many trade calls though, what are you selling the dollar against or are you just trading the index?

 

EUR and AUD primarily. I track the DX technically, follow the futures on ICE but haven't traded them yet.