Here again we have the US Dollar Index. I have shown up at studios of radio shows and thrown pies in the faces of the hosts at this point for their gloom and doom views of the dollar. I knew when it was under 80 and I was calling for a big move up I was right when I listened to virtually every single other person being bearish.
The short term trading opportunity to short never fully developed properly from my earlier post. Now we are up against last years highs, which is going to provide some short term resistance. I may even short it up here for a short term trade. However, big picture if we take those highs out we could see a moonshot to the upside. This will likely coincide with the stock market taking out last years lows which will further trigger the flight to quality into the dollar which we have seen repeatedly for the last year.
As frustrating as all the things the government is doing is to me with all the bailouts, it is providing great trading opportunities. It is now obvious to me that we just have to bet against the US in virtually everything economically for awhile, so all rallies except the dollar need to be shorted. I am very worried about where all of this nonsense is going to lead us, but I might as well make money from it.