The currency market is well...........interesting

Justacommeman

The dollar broke support at .77 with vengence in Asia this morning. It's getting tommahawked.

The Aussie dollar is a whisker away from par with the dollar. check

The Cando dollar is a eyelash away from par with the dollar. check

The Swiss Franc surpassed par awhile ago and is now at 1.05 to the dollar. check.

I've seen this act before at extreme overbought levels . When it unwinds it can unwind fast. But alas, the trend is still your friend. Still more meat on this bone me thinks. MJ will be nimble, he hopes. I see hedging in his future.................MJ

TWQG

It looks like the JCB will have to draw a new line in the sand at 81. Their open market interventions appear futile.
The metals are on fire tonight!

CaptHenway

Who wants to be the last person to get rid of their dollars??????

calleocho

The swiss franc has been on a tear.

How do you feel about other less popular currencies such as the Brazilian Real, Chilean Pesos etc?

Justacommeman

The Swiss Franc is both the anti dollar and anti Euro play

IMHO I don't trust the South American countries enough to own their currencies. I'd rather own oil or base metals

MJ

RedTiger

from
http://www.minyanville.com/dailyfeed/geithner-says-no-risk-of/ link

>>
Treasury chief Timothy Geithner appeared on Charlie Rose last night and was asked about his response to media reports of a coming global currency war. Geithner's response: "No risk of that."
...
Still, his adamant "No risk of that" response stands in contrast to comments made by investor George Soros, who recently declared: “Whether it realizes it or not, China has emerged as a leader of the world. If it fails to live up to the responsibilities of leadership, the global currency system is liable to break down and take the global economy with it.”
...
IMF leader Dominique Strauss-Kahn has said that something that looks a lot like a worldwide currency war has already started: "'Currency war' might be too strong, but the fact the countries want to find domestic solutions to a global problem is really a threat to the recovery," Strauss-Kahn told the BBC.
>>

Bear

Always believe the exact opposite, of what any official in Government says.

Everybody lies, tells half truths and misdirects the public ,about issues that

impact us deeply.

RedTiger

<< <i> Everybody lies, tells half truths and misdirects the public ... >>



That part stands for all players in the markets. Few telegraph their moves or their real positions or real exposure. When a big fish like Soros makes public pronouncements it is usually with a purpose, and that purpose is often to corral a lot of the little fish for a nice meal.

To believe the exact opposite would be too easy. The game of intelligence and counter-intelligence is a lot more sophisticated that opposites. Clever counter intelligence involves leaking information that will be wrong if believed, and also wrong if the opposite is believed. Government officials usually aren't so sophicated, but big players like Soros often are. That's why it is a difficult game.

percyb

<< <i>The dollar broke support at .77 with vengence in Asia this morning. MJ >>



Looks like the dollar index close at 76 and change. Support comes in here down to 74, so I'm thinking we should see a bounce.
What frightens me is if we don't see a bounce and the 74 level is broken.

percyb

<< <i>from
http://www.minyanville.com/dailyfeed/geithner-says-no-risk-of/ link

>>
Treasury chief Timothy Geithner appeared on Charlie Rose last night and was asked about his response to media reports of a coming global currency war. Geithner's response: "No risk of that."
.
>> >>



Did Geithner ever pay those taxes he was negligent on?
Has the man ever called anything correctly?

Justacommeman

There is minor support @ .76 and better support @ .74 and solid support @ .72. One would expect bounces and tests at each level. A break below .72 and Katy bar the door. It could get ugly..........MJ

renman95

Did Geithner ever pay those taxes he was negligent on?
Has the man ever called anything correctly? >>



The TG $1 bills are out and each one I get I will write "tax cheat" over his name.

renman95

<< <i>The swiss franc has been on a tear.

How do you feel about other less popular currencies such as the Brazilian Real, Chilean Pesos etc? >>



MJ has a good point. I guess it depends how you hold 'em. As a casual observer and frequent traveler to Brazil (& Argentina and Chile) I have seen the the Dollar fetch only 1.54 Reais last week compared to 1.93 just 18 months ago. It was 3.75 back in 2003. I never thought I would see the 2's let alone 1.50! We may see parity!

jmski52

Who wants to be the last person to get rid of their dollars??????

I'm hoping to unload some at the show in St. Charles this weekend.


The TG $1 bills are out and each one I get I will write "tax cheat" over his name.

What an outstanding idea! I can't wait to get some for myself.