FOREX TRADERS

[Worn_Buffet]

& just as I was beg ta rethink my dollar bear position....

tho I'm still of the belief that eventually the dollar will indeed come back down to earth (especially as it continues to rise...lol) eventually....I'm not so sure that it'll fall down to my high 50's low 60's call....maybe an eventual high 60's low 70's base w/a low-mid 60's bottom?

Was tellin Daiello that I was listen to the old farts on the show that was on after Fast Money last night...guess they're replacing Kudlow & Co w/this show..."Is your money safe?"....guess it was gettin embarrassing for Kudlow ta keep preachin Goldilocks ad nauseam & that there's no recession....all the while the dow is tanking...lol

Anyways...they were makin the bull case for the dollar....sayin the run is due to a recent influx of foreign capital since the US appears to be stronger than anyone else...admittedly much to what Daiello has been sayin here.

Having said that however, & especially hearing this news from Nettles, I'm not so sure how much more the dollar can rise? I guess that all depends on when most of this foreign capital in question is finally done makin its' way over here? Then there will be nothing else left to support further moves to the north...unless the broader indeces do indeed get down to the bottom call I have of 72-7500.....if that comes to fruition then I suppose that allocation needs ta go somewhere & in turn may very well help to support the dollar at these levels.

I guess the really difficult thing for me is to not account for any of the fundi's & just stick to t/a....I suppose the chart will tell us when this current bull dollar play is over.....no need tryin to call the top which has been down right impossible...mainly for the reason that the fundi's seemingly mean squat now a days.

Thus the call has def been long dollar & will continue to be as such until we fianlly beg ta see evidence (from the chart) to the contrary....so why fight it?

So going forward, even tho I think there's far more downside risk to come, I'll play the contrarian position & go long til I beg losin....albeit w/the lightest of nibbles.

& Jester....agreed in so much that the sooner we get thru all this & take the meds that need to be taken, any moves north (both equities & greenback) should not be viewed as bullish fundamental moves & thus deemed artifical in nature...at least until we have blame placed, dues paid & a few new rules & regs intorduced. Then & only then will I return to the happy-go-lucky rah-rah-rah Yankee Doodle Bull ;)~

& w/re to that school vs career thread from ystrdy....somethin else I was tellin Daiello.....ystrdy Ratigan was on the NYSE floor speakin to some old fart w/re to the current Wall St/finance employment situation & over the next coupla yrs going forward....he said that when he speaks to individuals who are planning on graduating w/in the next coupla yrs he's been tellin'em that....

"for the next few yrs it's either gonna be Mumbai, Dubai, Shanghai or...goodbye" :0

Indeed that pretty much sums it all up....making the question of wether ta stay in school or further along one's education a no brainer. However in Daiello's case....even if he's fortunate enough to even be able ta find a job, I wouldn't be expecting for an outfit to be willing to pony up for the MBA, Phd, etc....on top of the sal. I'd be preparing myself to simply be happy w/the sal & be expecting very limited perks, if any at all. It's surely gonna be slim pickens out there for awhile....& if ya think it's bad now....we'll lets just say it aint gonna be gettin any better...at least prepare yourself for all of '09 to be in the crapper as far as employment in genl goes...& most especially anything in finance.

So the best advice one can lend for todays mrkt enviornment, I gotta say stay in school...especially if you have the luxury of a low overhead, living @ home, no fam, etc. & to that point....never, ever leave home w/out a few Trojans...& do leave the American Express at home...at least until the economy begins ta show signs of picken up some :0


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"Risk comes from not knowing what you're doing."

Warren Buffet