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Strategies & Market Trends : SiliconInvestor All Stars Forum
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To: SouthFloridaGuy who wrote (1403)9/20/2007 10:57:03 AM
From: Real ManRead Replies (1) of 1718
 
Futures indicate he will cut 50 bp. more by December. Whether
or not he got away with it is another question. Prior to
his cuts the dollar was hovering over 80, a very strong long term
support, and had a chance of a bounce. Now the dollar is below
that and falling. 78 is still a strong support, I think, but 72
is rather wimpish. This does not look good. 40 is a H&S
projection, which means you'll pay $6 for coffee in London,
and the DOW will need to rise to 26K just not to lose value.
Not to mention that a fall to USDX = 40 will be a major
dollar crisis.

If the DOW rises slower than the dollar falls, this is not
a bull market, although one can play the DOW as well, with some
appropriate leverage -g-
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