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PowerShares DB US Dollar Bullish ETF Message Board

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  • traderman09 traderman09 Nov 3, 2009 12:27 PM Flag

    Correlation between Gold/Oil and $$$ broken?

    My thoughts are that stronger economic reports will strengthen the dollar as well as rally commodities. More expected demand = price bid higher. Either a recovery or more stimulus is coming. Maybe I'm wrong, but I believe the powers that be will sacrifice the dollar if need be to prevent a depression. Very bullish case to be made in my view for commodities right now. BTW, oil and gold have made a significant breakout moves and held their ground as the dollar bottomed and started going back up. Signals a change in expectations going forward? Not sure, but I closed my oil short for a profit to see what happens now.

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    • Traderman. Thanks 4 ur comments.

      Demand isn't there for gold at all. If you see, Indian gold imports which constitute retail demand is down over 40% YOY for the first time in over 40 years.

      Almost every Gold company and even GLD etf is trading at a P/E of over 30.

      Oil intrigues me even more. With nearly 10% and over 19% real unemployment, where is the demand for oil coming from? Global demand was never as much during the boom periods of 07-08 when oil went upto 145+.

      This smells pure manipulation and nothing else. Big boys at it again. :-)

      Thots?

 
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