Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (68393)	1/24/2004 7:06:27 PM
From: Real Man	Read Replies (1) of 94695

The dollar not going up here would be a violation of 4-year cycle. Interesting technical comments on the dollar on financialsense.com's last market wrapup. Well worth the read financialsense.com I won't buy the oversold here - I think we are about to start the real tankage of the dollar. This is Sinclair's chart jsmineset.com Fundamentally, this summarizes it: January 21 – Times of London (Leo Lewis): “Japan’s Ministry of Finance has lost more than (pounds) 40 billion ($72bn dollars) in the past financial year trying to bet against currency speculators, The Times has learnt. Cabinet Office insiders admitted yesterday that the currency losses have spiraled out of control, after a renewed attempt by the Finance Ministry to prop up the dollar and talk down the value of the yen… This month the Government has already spent a record sum trying to prevent the yen from rising too high against the dollar… One currency broker in Nomura…said: ‘The (ministry) is like an intervention junkie at the moment. The effect of each shot of dollar buying is getting less and less, which means the shots have to be bigger and bigger…’” In other words, watch the Yen, 106 level! I think they could stop buying soon. Their money is all what supports the dollar and the bonds at the moment.

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