Hi Jay,
I am embarrassed to mention but will anyway, I purchased back 50% of my paper gold position. I am still way heavy the USD. The longer I am overweight the USD, the less comfortable I am, although I am unwilling to wade back into Euro or Yen, and cannot see myself loading up on minor European country (CHF, DDK, NOK, SEK) currencies.
Being heavy on the US$ is certainly nothing to be ashamed of. At worst, you're ahead of the curve, and at best, the US$ surprises everyone and rises against most other currencies before anyone anticipates the positive move.
The US$ has been trampled upon by most other currencies for some time now. In the future, this situation will undoubtedly reverse itself, as currency movements are, by their very nature, cyclical. The correct question, in my opinion, is not if the US$ will reverse its current direction; the question that should be asked is when. Which is why I say to you that, at worst, you're a tad early in accumulating the US$. How early is anyone's guess...
KJC |
