The Dollar Has Bottomed

[gamalruach]

Quote from Jayford:

OK Sam, now your're talking. That makes sense. Stating that we are in a secular down market is a valid arguement. I'm happy you are off the Japan controls the world kick in this forum.

Remeber, Japan wants a STRONG dollar in every way possible (exports and value of holdings in US). There is nothing they can do about it though.

Jay

For Japan to move the yen down in price anymore than the 111 - 112 level would be a "brutal currency move."

That is AGAINST G-7, G-10 and G-20 globally agreed upon currency policy that Japan helped establish.

Japan is prohibited from further weakening the yen.

As soon as their corporations in Japan book their profits BOJ will let the USD slide against the yen back down to the 105 level, probably lower.

Cheers!

Sam

 

[margo_trader]

Looks lower to me...

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID742211&cmd=show[s10147742]&disp=P

 

[AC3]

Quote from gamalruach:

Yeah, well, nothing he indicates has changed in the structure of why he shorted USD to begin with. The market price probably hardly fluctuated during his short in and probably won't reflect his cover.

Sam

Think those Euros etc are long gone .......... My guess is the last one was covered just before that letter was emailed out..........