Short the dollar hard

Quote from cabletrader:
04-21-09 10:43 AM

Aud is the only thing worth buying longer term (as opposed to intraday) in my opinion so I'm starting to build a long Aud/Usd position, it's about the only thing which pays interest!
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Looks like Martinghoul has dissapeared!

Anyway, I can't take the pressure of all this long term trading, out for +650 pips....
 
Took out all 3 with a bang today:

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Looking at how strong that break was, and how heavily USD-long several retail sentiment indicators still are, I'd say this selloff has room to run. Increased fiber and cable longs today. RIP 08/09 USD rally. :)
 
Quote from shortie:

is this bullish for US stocks? is it the weak dollar that does not allow us market to correct to the downside?
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yes

the dollar is falling rapidly, even though ECB recently cut it's interest rate to 1%
 
Weak dollar increases commodity prices and commodity stocks. So you will get a rally in these stocks, and any stocks that benefit from sales of products in other currencies. A lot of large cap stocks are conglomerates that sell mainly outside the US.
 
Quote from Trader KGB:

USD selling off hard.
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You guys must have been listening to Jim Rogers and his 'currency crisis' prediction :D

So far it looks more like profit taking on the slightly unjustified recent dollar rally. Don't forget just a few months ago Eur/Usd was 1.60 and Gbp/Usd was over 2.00 so it's hardly a collapse or mass dollar exodus, it's all fairly orderly and technically 'correct'.

I don't see many trade calls though, what are you selling the dollar against or are you just trading the index?
 
Quote from cabletrader:

I don't see many trade calls though, what are you selling the dollar against or are you just trading the index?
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EUR and AUD primarily. I track the DX technically, follow the futures on ICE but haven't traded them yet.
 
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