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Holy cow

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October 11, 2010 – Comments (7)

So after a bunch of commodities went limit up on friday, the dollar rallies today...and silver and gold still somehow were still up. How is this not a topic of conversation at all? That is ridiculous. The dollar and metals should not rally together, and when commodities go limit up, that's scary

7 Comments – Post Your Own

#1) On October 11, 2010 at 7:35 PM, HarryCarysGhost (99.68) wrote:

Hey! thats my line :)

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#2) On October 11, 2010 at 7:36 PM, BillyTG (29.18) wrote:

I saw some article about this a couple weeks back. The gist of it was that gold has kept plugging along strongly and wasn't showing any reactions to other market trends. They hadn't seen this before. Basically, people, countries, and institutions keep buying no matter what. The demand is that strong and deep. It's not being traded as some type of short-term play.

Martin Armstrong says gold is not a hedge against inflation, but against political instability and government default. At this point, it's almost better to say things like "the US fiat currency rallied against other global fiat currencies." We've historically attached a certain holiness to the dollar that is no more...which, arguably, is why gold keeps plugging along!

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#3) On October 11, 2010 at 7:51 PM, Valyooo (99.41) wrote:

This is just another reason that I use patterns, trends and my knowledge of how mutual funds operate to trade rather than logic

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#4) On October 11, 2010 at 7:56 PM, cbwang888 (26.02) wrote:

Chinese Yuan rise against USD today?

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#5) On October 11, 2010 at 7:57 PM, MoneyWorksforMe (< 20) wrote:

I think today's upward move had a lot to do with the lack of agreement this past weekend during a meeting of finance ministers and central bankers which ended without any resolution.

I also believe the upward movement of the dollar recently has been purely technical. There is another technical resistance level right around 76.70 and it has been down almost every day for the past few weeks.

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#6) On October 11, 2010 at 8:53 PM, starbucks4ever (97.24) wrote:

Short-term market moves are random. Surprise, surprise!

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#7) On October 11, 2010 at 11:14 PM, Valyooo (99.41) wrote:

Long term market moves are comprised of a bunch of short term moves

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