Wednesday, November 10, 2010

HAL9000 Did Excellent Job with Shaking out U.S. Dollar Long Last Week

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After carrying U.S. dollars long as a hedge for about 4 weeks, after last week's Fed meeting I was wary of seeing a new low in the dollar index, and set a line in the sand of "low $76s" before letting myself stop out.  True to form last Friday the dollar index went to break those lows and burst into the $75s creating a "lower low"; I stopped out... and that has apparently marked the bottom.   The dollar has put in 3 upward days, and is up another 0.5%ish this AM (not on the chart below).  I'd like to see it get back over the 50 day moving average to believe a change in trend is truly afoot, but I'll give HAL9000 props on this one - I was played perfectly.


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