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Non-Tech : All Industries Value Investing
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To: John Vosilla who wrote (2666)7/11/2011 9:57:38 AM
From: Keith Feral  Read Replies (2) of 13719
 
Dollar is staging a very impressive breakout today. Negative for oil and commodities in general.

UUP needs to get above 21.79 to confirm a monthly reversal from last September. That should take the Euro back near 1.30 or 1.20 over the next couple quarters. The downtrend in the dollar since 2007 has made a nice bubble in most commodities. It's long overdue for a sideways to down market for the next 10 years. Still be good for some trading, but crude prices have no support anywhere close to $100. I guess we'll find out where the support is next fall.
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