The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Tommaso who wrote (16077)	1/5/2009 10:12:14 PM
From: Real Man	Read Replies (2) of 71456

I'm not, in general, expecting anything drastic in gold, except a test of the lower bullish channel. This has been a 100% rally in gold stocks from the lows, in 2 months. And, it remains technically broken intermediate term. We'll see. I'm just trading hedges around the long position. However, a generally gold bearish season is coming up in February. I am expecting gold to end interim bear market later this year (around August), if it continues to breathe with its own market cycles and not discount the Fed's largesse and the bailout packages. The dollar can remain bullish as rate reductions abroad continue taking place, while the Fed is obviously done. All I say is that one has to be careful with gold around these technical levels, since the market is undergoing a severe mid-cycle correction (in USD) similar to 1975. Despite this, the secular long term gold bull is alive. In fact, gold just made all time highs in the average global currency, so this is the dollar strength effect. -g-

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