SELL!
Can we be any more clear than that?
Richard Russell commented on two charts of the U.S. Dollar, and everyone is printing that. I want to do more than just reprint it here. (In case you didn’t see it elsewhere, the Dollar has put in a classic head and shoulders top AND broken below an important trend line – UGH! in Richard’s words.)
Let me remind everyone that when the top was being put in that Richard Russell is referring to, the U.S. Dollar had almost exclusively cheerleaders – at least in the mainstream. Every over paid analyst and his brother was spewing slime out of his mouth about how the U.S. Dollar is the one to own.
“The dollar will be strong for years to come.”
Maybe, but we’ve got a blip on the screen now, don’t we?
At the same time I want to caution you all that the U.S. Dollar turned up just when no one said it would. And now we have a massive switch to those saying it’s going lower.
I personally believe that, long term, it will go lower. Short term is anyone’s guess in these markets. And since so many people are calling this the end again – be cautious selling the U.S. Dollar, it could easily turn irrational again; at least for long enough to bankrupt you.
The antidote for many is to buy gold and silver. If you can get your hands on any at a reasonable price.
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