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Strategies & Market Trends : Market Guru of the Month Contest

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To: Jeffry K. Smith who wrote (1200)	9/24/2010 12:40:36 PM
From: Wayners	Read Replies (1) of 17549

Forget the durable goods which was Yahoo's headline financial news about manufacturing orders. That news came out at what 0830 EDT? Here is what really happened. At about 0330 am EDT, Gold broke higher out its bullish flag. At 4 am, the U.S. dollar broke down solidly and busted down out of it's bear flag. This made crude oil jump in dollar price of course. SP500 and Oil almost always move in the same direction, but we've had a strange divergence over the last few weeks with SP500 going up and oil going down. Now they are moving together once again. I really believe now that Gold/Dollar are the current tails wagging the dogs. Even though Gold came back down to retest, the dollar kept on flagging. With Printing Press Ben working 3 shifts a day, no wonder the dollar is getting slammed. This has to scare bond holders and others holding dollar denominated assets overseas.

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