Jim Willies' latest 3/9/11
ksammut
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His last paragraph..........
"Some advice. As the movement swirls, as the next QE program details are revealed, as the central bank model is shattered in discredit, as the global monetary system crumbles before your eyes, as sovereign debt worldwide loses its exalted safe haven security, as your personal budget finances erode beyond your worst nightmare, invest what is left of your life savings in Gold and especially Silver. In time, they will be the primary portions of your portfolio with surviving value. Each will rise, but Silver will do a moon shot!!"
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Dollar is in the midst of a C leg as part of a larger ABC started back in 1985 at DX 162. This current triangle is probably the half-way point of the move down from 2001.
Seems unlikely to me that it will resolve anyway but down. In any case since it already penetrated the up trend line, I would agree with JW that there will be much
expended to push it back up towards the 77+ level to back-test that uptrend line one last time. Then the dollar will resume course to map out it's scheduled 3 to 3-1/2 yr bottom due
this spring. The head and shoulder formation would project to 42-62 depending on which shoulders one picks.
roadrunner