Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: big guy who wrote (98531)	4/2/2008 11:38:23 AM
From: Sweet Ol	Read Replies (2) \| Respond to of 206321

I am no EW expert, but the USD looks murky to me. What I see since 2001 is three impulse waves down. Correction waves usually have 3 waves, but when there is a complete change in trend the correction may be a 5-wave impulse wave. The $USD could be in the 3rd of 5 down, or it could be nearing the end of 3 of 3. I am not prepared to guess which is the most likely scenario at this time. My annotated monthly chart follows. Notice that I have the most recent wave shown as a dashed line because it is a projection because the wave is not complete. If it follows the dashed line down to the bottom of the channel then I would think it is an impulse wave and there will be another correction wave 4 up followed by a big wave 5 down. That scenario is pretty scary as it could take the dollar down another 50% or so. That would imply $200-300 CL and we could not afford expensive Chinese clothing or Japanese TVs or French wine. <img src="http://stockcharts.com/c-sc/sc?s=$USD&p=M&b=5&g=0&i=p63758648429&a=134950356&r=72"> Another scary thought is looking at the Bollinger Bands. I use Dabum's 20,1 settings and you can see that it stayed below the lower line except for 2005. You could have made a lot of money using his trading method to short it down. And, it shows no sign yet of coming out of this down trend, even with the recent bump up. It looks to me like the buck is broke! Best to all, JRH