Seeking Alpha

Long dollar positions fell 43% in the week ended Tuesday, according to an analysis of...

Long dollar positions fell 43% in the week ended Tuesday, according to an analysis of Commitments of Traders data by Dow Jones, mirrored by significant decreases in euro and yen shorts. Also of interest are Swiss franc shorts, which fell 79% amidst thoughts the SNB can't sit on top of the currency much longer.
Comments (1)
  • I HATE being the 1st to comment. Anyway, today is a strange one in the market, E$, US$ index, Au & Ag are all up. Dead cat bounce for the markets? Total lack of conviction up or downside folks. So, what's the problem out there?
    I deduce, from the action I have seen, that folks are kind of running home to momma. Perhaps hiding behind T-bills,bonds and notes for the short term. Some are opting for % rate stuff like REITs. Several stayed in the green yesterday while the bombs were dropping all over the board. The Black Swan came yesterday in a flock of them. Poor showing in the economic news department. Coming after a bad day in black rock on the DOW and other indices. So was today just a DCB as mentioned? I dunno. I have been long predicting bad things due to the debt, fear, and new job order. I also have been predicting inflation, so much, that the reality of it can't be hidden much longer. But there has been no wage inflation at all. There is just so much hot air out there, smoke and mirrors, that this electronic market of ours is about to blow a fuse. I want to be in my REITs for returns, as I am practicing to retire, I want to stay in my PM ETF's such as SLV and SIVR, but I am afraid that the metal which is supposed to be there, backing up the value of my shares, is not there. And the market will have a scare, and plummet and stay down, forcing the bad times ahead.
    So, I will simply say this. I feel that Gold is attempting for another time, (fourth recent try) [maybe more] in the last year or so to dip below $1,500.00. Just can't seem to do it. Same with Ag getting below the 26.12 price, and the EUR/USD pair can't slip below 1.19

     

    I am calling these prices 'a line in the sand'. If these prices are broken by one, it will be broken by all three. The US$ is in first place in the ugly contest. Not quite as ugly [yet] as other fiat currencies.

     

    I believe these prices will hold, and for about 3 - 4 months more. Then, the mold will be broken. I am betting, with a lot of my hard earned money, [not just my words, and reputation as a time machine owner] but borne on the winds of reality and time left for the bankers of the world to get their house in order. How they can do that is by declaring the facts, and who will suffer,and who will get to keep jobs to keep democracy alive. Its that serious. If we don't rescue democracy as we know it, the ''New Dark Ages" will be upon us. I now say, because it appears that neither political partry knows what the he11 to do. Ron Paul, Thompson, and a few others know, but no one is listening. The media loves to trounce the big mouths like Tramp and Limberger, but will not listen to reality nor reason. Well, BUD, someone better listen [pretty dratted soon] to people like me that know the score, and not afraid to say it. It is the bottom of the ninth, and we are behind a lot of runs. We may even lose this game, but there is hope. Hope in our ability to eat crow, roll up our sleeves, make it work, as I have kicked down stone walls, pumped my bilges, and kept my little business from sinking, which it should have done many times. No time to waste, and if you don't listen, I must rely on my silver to see me through. In fact, I am beginning to buy copper rounds because Au and Ag may be so valuable, no one can break the coin value.

     

    I hope I am one of those nuts we talk about, and I am 100% wrong, and all if fine in Willoughby.

     

    Capt. Brian
    The Lost Navigator
    22 Jun 2012, 05:46 PM Reply Like
DJIA (DIA) S&P 500 (SPY)