Thursday, September 3, 2009

Still Holding Support - The US Dollar, and Mark Faber makes me feel like a Star!

Just a quick one today.  Actually a quick TWO:

Despite news articles claiming the USD is dying (it's down almost a full point on the index today), there is some good news if you are a longer-term short-seller.  The USD has not broken out of the bottom of that triangle formation I showed you guys a few days ago.


And number two - this video of Marc Faber thrown on Youtube today.  He's talking about the US dollar and how he expects both big moves in the Dollar over the next 10 days (breakout from the triangle, like I said a few days back), and how he also is expecting mid-term deflationary forces, and a sharp reversal of the highly over-extended sentiment (red this) of retail investors, economists, and fund managers all.

It's nice to have one of the worlds most successful traders on the same page as you are!  Not to mention this guy is generally very contrarian and on the starting post for major winning moves.  Smiles all!

Here's the vid if you are interested in listening to one of the world's best traders for a few minutes.  Well worth it.

Happy trading all!


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