Comments on: Dollar Supports… For Now http://blog.afraidtotrade.com/dollar-supports-for-now/ Helping traders overcome fears and emotions in trading Wed, 08 Feb 2012 09:26:36 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Corey http://blog.afraidtotrade.com/dollar-supports-for-now/comment-page-1/#comment-133872 Corey Fri, 26 Sep 2008 15:47:05 +0000 http://blog.afraidtotrade.com/?p=3011#comment-133872 Comment by Richard InBellingham via email (published with permission) - my thanks for his comment: The direction of all wealth, except the Yen, FXY, is down. The US Dollar, $USD, will fall in a death spiral lower with all currencies. Even though gold could easily fall to $850, $825, $800 or $775, with a falling EURJPY, I recommend diversification of investment in gold in four locations "immediately": the gold ETF, GLD, directly through streetTRACKS Gold Trust, and not in a brokerage account; two BullionVault, three GoldMoney; and four a limited number of gold coins. Last week the SEC announced a ban on short selling of the financial companies, and on Friday we had the Mother of all short covering rallies. Today, I received the proceeds of the SKF trade I was forced out of, at sizeable loss. I used that and all available cash to buy gold and silver coins. One can use the linked article for my bearish appraisal of the current stock market. http://my.opera.com/richardinbellingham/blog/show.dml/2591678 Comment by Richard InBellingham via email (published with permission) – my thanks for his comment:

The direction of all wealth, except the Yen, FXY, is down.

The US Dollar, $USD, will fall in a death spiral lower with all currencies.

Even though gold could easily fall to $850, $825, $800 or $775, with a falling EURJPY, I recommend diversification of investment in gold in four locations “immediately”: the gold ETF, GLD, directly through streetTRACKS Gold Trust, and not in a brokerage account; two BullionVault, three GoldMoney; and four a limited number of gold coins.

Last week the SEC announced a ban on short selling of the financial companies, and on Friday we had the Mother of all short covering rallies.

Today, I received the proceeds of the SKF trade I was forced out of, at sizeable loss. I used that and all available cash to buy gold and silver coins.

One can use the linked article for my bearish appraisal of the current stock market.

http://my.opera.com/richardinbellingham/blog/show.dml/2591678

]]>