Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

The dollar is still in a downtrend, so bounces are anemic. The Euro is holding it up (it has already breached the 110 yen and now should breach in the next few weeks the $1.18 to the Euro). Short term, probably not very long, it is just making a weak counter move. Gold has already retraced half of the move from $370 to $393, and I have a "gut feeling" that $375 will be the bottom of this retrench in the next few days (and am getting ready to reenter gold again). I would not be surprised if during November we finally make a first excursion above $400 on gold, coinciding , possibly with the through in equities I currently have around 11/21. See my post to Jim yesterday (#msg-1641600).