satday shuffle, page-11

Evening all , P I'm not sure why most commentators are always so bearish on the usd .

I remember the first week of 2005 or last week of 2004 and everyone was screaming sell the usd sell the usd .
Guess what ,it went up ! Billy Gates and Buffet lost heaps .
Think that was an armstrong date as well .

From what I see with the usd index it went up for 11 months from 2004/2005 low and has now taken 21 months to get back to the double bottom .

Ok it's still going down as most ma's on weekly and daily are pointing down but if something takes longer to get to the last bottom than what it did to its recent top it ain't crash positions in my book and more a consolidation time wasting effort etc .

http://stockcharts.com/charts/gallery.html?$usd

note middle chart is weekly and i used a different chart to check monthly [ netdania ]

I'm starting to wonder if things are really as bad as the press makes out . They probably are but if it was catastrophic then the fed would of lowered rates 1 percent not be stuffing around with bank rates to provide liquidity .

Was an interesting comment out of UK where it was made quite clear that the reserve emergency funds were not to be disclosed as I think 2 majors had to borrow short term recently .

The risks are to the rest of the world me thinks and not so much the land of Yanks although it wouldn't be uncommon at this time of year to see another lower low in the Yanks indices . BUT , I simply have no idea at present and don't like to see such huge days in xjo as it reeks of something very strange happening .

ge