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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (152846)10/13/2007 12:56:28 PM
From: skinowski  Read Replies (1) of 209892
 
foreigners have little choice but to continue holding...and adding to your holdings...The gloom-and-doomers' worry about wholesale dumping has always been very unrealistic..

Agree that wholesale dumping is very unlikely,... but there are always choices - both foreigners and domestic USD holders have more than one. The fact that the index is so weak must, in the end, reflect the fact that there must be more sellers than buyers.

I expect the USD to bounce, and even purchased shares of UUP - but for several days now they are sitting in place - and I'm beginning to have doubts, at least in the longer term. If it will not go up in a meaningful way, it will begin to slide down again. The thought crossed my mind more than once that this recent strength in equities may be due, in part, to a desire to exchange Dollars for "anything but". Hopefully, this type of concerns is no more than a bullish sign (for the Dollar).
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