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Friday, December 15, 2023

Taking a look at the $USD

I was watching Fast Money traders trying to figure out what's up with the $USD, and as usual, most of them got it completely wrong. They even had Chris Verrone on, to pump gold, and he pulled up a $USD chart, but he's a long time gold bug, and has no charting skills whatsoever. 

I understand the inherent value gold has but I could care less if gold goes up or down. 

Flashback to an update I did on the Santa Claus rally last January: 

Tuesday Jan. 10th, 2023 

"Bloomberg continues to push a strong EURO narrative, while trying to talk down the $USD; that caused me to take a closer look at currencies this morning.  

$USD down, stocks up, seems to be the recent trend (since Oct.) Makes sense right? A weak dollar makes the market look like it's going higher?" 

Fast Forward to today's bearish $USD story 

I'll leave it to you to predict what comes next, but once you see every investor on Wall Street, on the same side of the trade, and the lame stream media pushing the same narrative, I'm going to take the contrarian view every time. 

Take care, 

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