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Strategies & Market Trends : Ride the Tiger with CD

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To: tyc:> who wrote (98659)	11/12/2007 12:44:12 PM
From: Canuck Dave	Read Replies (1) of 312313

Just online. Figured today would be "whacking day". And it is. Dollar was overbought. Actually, lots of stuff were overbought. I think the loonie may retreat for a while longer. The Cdn dollar trend is pretty strong. Going to take a lot longer pull back to break it. Determining a trend change is aided if you have volume figures, i.e. did it hit a major resistance or just some intermediate blip and profit taking within a major underlying trend. Lacking volume data, it's a lot trickier. I guess at this point, it depends on your time frame. Short term, probably the wrong time to get out of the loonie now. Long term, Canadian economy is in much better shape than US. So... I think the overall trend is still in place unless the government deliberately starts to weaken the currency, but we've entered a consolidation phase. Dollar is going to bounce around the $1.00-$1.10 level for a while. Might take a year or more for the trend to reassert. CD

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