Selling our Long Dollar Position Today
At the moment this is a purely techncial call.
It seems like we have been long the dollar forever and it has gone up some from our entry levels. The problem is; that from a long term momentum basis it just appears to have no legs. It is probably because Washington is broken, little is getting done, the Demorcats have adopted the same operating policy as the Republicans, raise big money and talk a big game. Bernanke played along and tried to keep things going with a deeply flawed big money approach, but that is all ending and gold is looking better.
Sorry folks, you might try putting real policy changers in Washington, change comes from you, not Washington.