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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Travis_Bickle who wrote (141329)	8/15/2008 9:48:28 PM
From: James Hutton	Read Replies (2) \| Respond to of 306849

I bought a little SLV yesterday, but I fear it will be awhile before it consolidates and moves up. Plus, already holding a little GLD and some stocks that I'd rather not talk about. Let's see, on the one hand, there's the race to the bottom of the currency ladder, which we were winning, but have now fallen behind the Euro and the Yen. On the other hand, none of the structural issues have been addressed. We are Japan II as to real estate and on the slow track of writing off bad assets and Argentina III or IV with our debt. So I'm not sure how our currency rises in the long term. But the market is a lot smarter than I am. I heard one of the sound biters on Fast Money the other day saying "the trade" now is to short gold and go long the dollar. So if this is the thinking in that crowd, the dollar and gold may both overshoot. I'd have to check back and see when China officially cut off foreign buyers of the Yuan, but it might be interesting to see if this is contributing to the dollar bull. If I had to bet, I'd place $ on the Chinese pressuring the Fed to buy the hell out of dollars to help keep the Yuan down. Anybody shorting the RTH? Retailers run is beyond stupid.