Re- 'Could you please direct me to a link where Jim Rogers ostensibly has changed his stance on the dollar? Rogers has consistently said he is selling ALL of his dollar-denominated assets and that the dollar is toast. He has not preached trading in and out, but has taken a fundamental position against it and said that the long term trend is clear.
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Shame on you if you are serious about that question. You really shouldn't be trading- you should own mutual funds if you're that far out of the news loop. Rogers has to be one of the 2, or 3 most quoted commodity bulls and dollar bears in the world. His comments on no longer being short the dollar and expecting a dollar RALLY appeared everywhere. Bloomberg, Kitco, Mad Money, Seeking Alpha. Do you guys do any of your own homework, or follow the news daily- or just sit on chat boards and bullshit each other all day?
Here's the quote- the links will follow.
Jimmy Rogers quote: May 8th, 2008 in Singapore:
"``I expect a nice rally in the American dollar because so many have been bearish on the American dollar, including me,'' he said on May 8 in Singapore."
You doubted me- didn't you <vbg>.
You guys scare me. I'm an old fart. I'm trading with money I can afford to completely lose and not impact my standard of living. I don't get the feeling that's the same with most people here. But, yet you guys are trading on outdated assumptions like Jimmy Rogers being short the Dollar.
bloomberg.com
kitco.com
seekingalpha.com
madmoneyfund.blogspot.com
News flash- name the top 5 US Dollar Bears- and guess what? They've all covered.
Vi- per your own charts. Look at your FUNDS chart. The large funds MASSIVELY covered their US Dollar shorts last fall- from September to January of this year. Notice the collapse from 30,000 to flat?
Also-
Net-short positions versus all currencies fell to $10 billion in the week ended April 29, from $22 billion in the prior period, according to CFTC data .
Speculators had net-long bets on the dollar versus the pound and the euro. Hedge funds and other large speculators were net-short the euro for a second week in the period ended May 6.
In another bullish signal for the dollar, demand for one- month options that grant the right to sell the euro is greater than for those allowing for purchases. The so-called risk- reversal rate had a 0.44 percentage point premium for euro puts relative to calls on May 9.
Ron |
