Monday, June 23, 2008

Attraction Points(Apoints) COMING UP

Well, Looks like the Dollar had listened to our call support this morning and took to heart. The Antidollar is still within the parameters of being on the minor upwinding line for next few days, but ANTIDOLLARS inability to make more of the Markets weakness up to now is disappointing. IF AntiDollar ( like GOLD) was to break the lows of past couple weeks, the entire picture of ANTIDOLLAR will come unglued and Dollar could be on its way( finally ) to an accelerated upswing expected to start within next 30 trading days.
What will be the Major signs of ANTIDOLLAR BREAKDOWN?
0) a twenty dollar break in OIL below 119
1) sharp break in GOLD below 840
2) sharp break in British Pound below 1.94
3) sharp break in JPY above 109 (quote)
4) sharp break in AUD below 0.92 , finally!
4) Relatively milder breaks in EURO/CHF
Now these are not the prices to sell at, these are prices for setup for sell.
Actual selling will have to come on corrections back.
At the end of the day, we have been getting, what I called a flatlining a couple months ago. It is clear to me that everybody, especially longs in ANTIDOLLAR, are interested to keep the prices around here and Dollar Down, so that they can UNLOAD their merchandise on BOZOS and that takes time.

I would think of collection on MDS/short gains or placing a stop that guarantees that much gain. Let us not forget that there could be more downside though and a bigger crash is not out of the question completely.


17 comments:

Howard said...

Dear Boris/all,
Gold did just show us a sign (douwn 30).

What is the best way to play the usd?
Is UUP (DOUBLE Dollar) or DRR (Doubl short Euro) something or are there other stochs?

I sold my Gold Warrents at the bottom now (bougt them friday before US open), but I will try to buy them back soon.

Thanks, Howard

chronictown said...

Is it time to short gld? spx support@1316. looking for a bounce to 1327. thanks for your hard work Boris. Lag. let us know your entry pts. You are our leading indicater!

boris said...

Dear Howrad,
I would not vernture to sell short ( will take profits) GOLD until after 10 July and/or break of 825

Good Trading

boris said...

Dear Chronictown,
As I indicated I am not purchasing stock market yet.
I did recommended to kill the shorts at the earliest chance and that was the level at the close of last FRIDAY ( to be exercised in futures market late last night, early this morning)

I did not yet decide to buy the market though and as you know would wait for the "right point" or not buy at all.

You see, nobody has to buy anything unless the merchendise comes at desired time and price

Good Trading

Howard said...

Thank you Boris,

Just for the reccord: The warrents was put w.

Howard

lagscrew said...

chronic

I bought QLD Friday on the spike down at 80.45---dont like to get to heavy on the way up as Im a bear. May or maynot dump it at 1327-29 area--just have to see--should get an ABC up

do own some dug and slv(keeper)

chronictown said...

Thanks for the help!The gold update helps!

Robert said...

Boris:

Thanks for the tip on the dollar. Surely, a lot depends on data this week.

The FOMc meets Tues and Wed. Their positon on interest will be out Wed. It may be flat but there is a chance they will increase interbank interest rates.

Tomorrow and later this week there is a surge of news which will likely be very negative.

Assuming there is a lot of bad US economic news this week, how do you suppose that they impact your projection of a very strong dollar the next few days, Boris?

Robert

boris said...

Dear Robert,
I am not projecting very strong dollar next few days. I would give it a higher probability once the 75 level is broken hard. I am still in the mode of meandering into next couple weeks with almost equal probability of breaking up or down ( only temporarily down though).

But I would have no hesitation to completely go into immediate bullish run on DOLLAR if one of the conditions enumerated in the post happens.

Good Trading

Robert said...

Boris

Thanks for your quick reponse. I am long on the dollar and am suspicious that i might should exit now on this bounce and wait for a few days to reenter.

On my concern on the statistics, i guess a lot depends on how bad they are and how the media spins them. Too, there is the reality that while the US dollar is fiat, the same is true for most of the other currencies. Right now, many or most other countries are plagued with economic problems. SO the US is not alone.

Boris, in looking at your APs on the British pound, are these correct? i believe that we are now near or below 195 (as i now remember) and your projection has the high and low range all above 195.

Robert

boris said...

Dear Robert,
If you long now and position is too large on you, I hear you.
If position is managable though, I would not worry about it, even as you could get delayed for few weeks before eventual break out in DOLLAR

GOod Trading

Robert said...

Boris

i was wrong on the pound. The cash is now near 196 and the Sep $-pound contract is just below 195.

By the way, i did short the pound last night following your negative advice on it. I am now elated. Thank you for your pound ideas. i agree the pound is sick. So it has to go down. Maybe Soros can go to work on it again soon.

Robert

boris said...

Dear Robert,
Ever since the former chancellor excheaquer( i hope to have spelled correctly) and now prime minister came out and propped the POUND ( our subscriber remember we had the 212 target on it), I told myself, hallelujah...

If it takes the future prime minister to propp this dis dog up, there must be something wrong...


Ok since then POUND has lost close to 10%.

In any case, I would not be calas with any of these currencies .

I think that Mapulation of currencies is becoming so disgusting that, it bears very close watching


Good Trading Dear Robert.

SOROS.... O yes, if only somebody could be put in charge of 2 Billion Dollar Fund, I may do what he did to BRITISH as well(:-

GOod Trading

Robert said...

Boris

On your mention of a big dollar move maybe soon in late Jun or July, you might be interested in a comment i just picked up from Goldseek.com's report from Insignia in India.

This source said: "If eurozone growth falters due to a stronger currency and higher commodity prices then the ECB will cut interest rates only once in July. This move will be negative for the Euro."

While the ECB has been hollering about further raising of interest rates, what if they pull a reverse in their July meeting and lower them to stimulate growth?

Boris, do you suppose that this would be the catalyst to drive the euro back down to below 150?

Other than a surprise euro interest rate decline, what do you Boris suppose is on the table to possibly bring the euro down in the coming days?

Since the euro constitutes 57% of the dollar index, it surely must come down substantially to really power a dollar breakout to the upside.

Your ideas please.

Let me also thank you Boris for your tip on the Yen. i shorted it as well last night and i feel good today. You projected a real break down in the yen and a later good buy opportunity. I may follow this tip a little later.

Regards, Robert

boris said...

Dear Robert,

That is an interesting statment you picked up is not it?

I call the MR. Trische arrogant and for good reason , I think...
But it would probably be just that, not so much the strong USA, but weeker outside world that would make the Dollar run up. USA entered the slowdown/recession first and now FED is standing aside?
Is it the time for others/EUROPEANS to catch the recession/slowdown balhs?

I would agree with the possible culprits mentioned here, it could also be a bit unuasual strength in eco/flation numbers in USA to help the move along.

Good Trading

lagscrew said...

Boris

I dont like the trin readings I am seeing for much of a rally. Also the P/C ratios arnt all that great either. Up or down sucks

boris said...

Dear Lag,
Thanks for updates
GOod Trading