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Dollar Declines as US Current Account Deficit Seen Widening

 

snippit:

 

``The current-account deficit is a structural worry for the dollar,'' said Tony Robinson, chief investment officer at Attica Asset Management, which runs $200 million in assets.

 

The U.S. shortfall widened to $132 billion in the third quarter, economists surveyed by Bloomberg expect a report at 1:30 p.m. London time to show. Japan's current-account surplus grew in October, according to government figures yesterday

 

 

 

Market Mth Open High Low Last Change Date Time Bid Ask

EuroFX(CME)(Globex) Mar 100.48 101.24 100.36 101.00 +0.60

US Dollar Index(NYBOT) Mar 105.54 105.58 105.15 105.35 -0.50

 

I'd say the dip in the dollar, and the relative strength in gold amounts to worries over the CAD #'s.

 

TCG

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Just an aside: does anyone know if J Lo has any brains? Two have left her, Ben seems pretty bright. Just the ruminations of a dirty old man.

 

Yosh - JohnQ likes graphs which go up. Should be "account deficit", which would be positive numbers. Otherwise, he might get concerned.

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e-wave guy onischka about DAX today:

 

a break of 3180 leads us to 3270 and maybe 3320, after that downmove begins.

 

DAX is right now at 3160.

 

Would fit perfectly with a ramp in the a.m. and then down in the p.m.

 

I really really hope that happens.

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Just an aside: does anyone know if J Lo has any brains? Two have left her, Ben seems pretty bright. Just the ruminations of a dirty old man.

I disagree about Ben. He appears to be a person untroubled by any clear thoughts. The overdeveloped jaw and the "rebel without a clue" look of his gives it away- the guy's a moron and a sucky actor. Then again, so is JLo, probably. But then, I'm sitting here in my pyjamas typing about them, so who's the greater fool?

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I may want to upgrade my Q target today to about

 

$26.38... that would be about a 38% mild retracement of recent leg 1 down from 28.70... and its why I should have trusted my instinct and waited it out... oh well...

 

Following that, a leg to about $21.36 is possible, although it would take several weeks to transpire IMO

 

So, thats the deal... the interim stop would be about 24.50 ish prior to year end... with a year end and early january bounce...

 

Followed by Major downleg last several weeks into March....

 

In the meantime, shorts, bears may be a tad frustrated....

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J Lo has a very very cute face but her ass MON DIEU! :lol:

 

fokker,

pyjamaS? I mean, you wear more than one? :lol:

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SG,

 

There is a link on LOB about the rebalance on the QQQ next Friday (OE day). Do you think this could skew the charts? I am thinking of closing my RYVNX and moving into RYTPX (S&P).

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Final IMPORTANT note

 

Just looked at my 1 min and 10 min charts from last few days on Q's, Nas etc...

 

Looks like this morning is final wave 5 thrust up to finish the countertrend 2 to 2 1/2 day move....

 

This WILL BE FOLLOWED by a new downleg... this is going to be a VERY GOOD day to enter short positions.

 

Looks like I was about 1/2 day early is all...

 

Im confident in this forecast... but of course, I could be wrong... heh heh...

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PM's back to about neutral.

Maybe they were thinking of selling it to support the paper. Ran a test and all the bids got pulled. Someone is getting smart.

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