Long dollar this am. See veracity. Not gonna be without some swings but we are done debasing for a stretch. Euro 1.40 was the target and we hit it. As for the YEN. That trade may take a while to unwind but yes the BOJ would like the Yen lower but they're having a hard time with currency wars in effect.
dollar lost 1.5% since I started the thread 1 week ago. I am looking at UUP 22.41 right now. it is so oversold that it is destined to bounce any moment now.
UUP (low so far so good) Thursday's open at 22.37. That's the stop I'll reenter if need be otherwise we're good to go....
http://www.bloomberg.com/news/2010-10-12/faber-sees-global-turning-point-credit-bubble-update1-.html Global markets are heading for an âimportant turning pointâ as interest rates begin to rise within about three months and the U.S. dollar gains, according to investor Marc Faber.
For what it's worth: http://pragcap.com/is-the-dollar-rally-about-to-kill-risk-assets The sample size is very small (only 5 times since 2004), but every time speculators have been this bearish on the Dollar, it has always rallied over the next 3 months.
Ah! my long dollar trade is ~b/e right now. the dollar is alive! a general question: this trade went against me ~2%, do i admit that i was wrong and close ~b/e (maybe a small gain or a small loss) and start from scratch? i am guessing the answer is: "it depends..."