I think the dollar put in possible signs of a bottoming on Friday, this should weigh heavily against commodities leading into the fed speak this week.
The dollar index has eyes set on 74.43 right now from the lows Thursday of 73.93 it would take the dollar passing 74.73 to say a bottom is in on the dollar.
After that, I'd have to monitor oil and PM's to see if a short is possible. I think PM's and oil are behaving like alternate currencies v commodities. As a result they could rise with the dollar v the inverse relationship.
Tomorrow will be interesting.
Reuters is saying that Iranian TV is merely reporting that the jets are massing in Iraq. That makes a big difference.
Could be true or not, but Reuters' credibility and Iranian TV's credibility are not the same.
Charts say stay nimble and weary.
The dollar index looks like it is resisting falling and wishes to rise. The few times its done so today, silver, gold and oil have been destroyed.
Today has been too hectic for me to analyze even one chart. Just trading the begesus out of this volatility. Made a killing today.
Sounds like to me after today, we offically have "screwflation of the middle-class"!!
Looks like we need to buy oil, gold, silver, corn & oil services.
What does your charts say?
Well written Tiger!
I'd add that a fixed market is a fixed market and there has never been anything called a real free market, ever. Maybe its semantics. When the gov controlled the price, they answered to the people, so it was easy to understand why gas/oil prices remained low.
Replace the gov fixer with the fixers goldman and morgan, and realize the fixers now answer to a different audience. realize goldman and morgan answer to the shareholders and as a result rising prices keeps profits high.
>>The Republicans are even worse because they are too pig headed to even admit there is a problem<< I think they all know the problem and we do too, it's greed and self preservation. The lobby's for big oil pay for Republicans election runs and as a result oil is also paying for the sound bite "Republicans believe in Free Markets".
Dem's are just as guilty. I've been reading for several years now that the US has the biggest supply of natural gas in the world and if a party with back bone moved the US toward liquified nat gas, energy costs in the US would be halved, manufacturing and production jobs would sky rocket with the evolution of a completely new industry and green initiatives would be met because nat gas burns cleaner.
It's going to take a lot of people with tools like Martin to stand outside the white house popping them off and demanding change for anything to change.
I think the real problem is the political system two party or not is broken. Here in canada we have four parties but the same lobby problems occur and I've just become so disgusted over the years I've stopped voting.
I'm not looking at charts today until noon, volume is going to die this morning until after the fed speak. Trading this morning is asking for the machines to take your money.
Once upon a time there was a shining city on the hill called DXOboard. It was a place of calm and rationality, where learned men and women shared insightful and respectful discussions on the great financial issues of our time (plus some hot technical set-ups on short-term trades). All around DXOboard stretched the rest of YahooBoardland, a vast and inhospitable desert where the residents lied about having bought 10,000 shares of NFLX at $40, hurled racial and ethnic insults at each other, frothed at the mouth when any heathen dared question their wisdom in buying a stock at 150 times TTM earnings, and occasionally fornicated with sheep.
Then came the terrible day when the Powers that Be banished the wise residents of DXOboard from their virtual home. But instead of weeping and wailing and rending their garments in despair, DXOboardians again showed their true character and wandered off into the inhospitable YahooBoardland desert, resolutely seeking a new home where they could resume their respectful conversations. Until they came upon a deserted hamlet called NOAboard. And there they have settled to rebuild the community that once was.
O Verily, Craig, we are but pilgrims seeking a tranquil home in a harsh and strange land.
Or you could call us squatters, I guess.