Country wrote:SILVER up another 40c tonight. $45 may be history by morning....
68Camaro wrote:Country wrote:SILVER up another 40c tonight. $45 may be history by morning....
USD threatening to go below 74
beauanderos wrote:$47 tomorrow on short-covering rally
68Camaro wrote:beauanderos wrote:$47 tomorrow on short-covering rally
As I think that's what's going on, I wouldn't bet against 48 tomorrow, maybe 50 by Friday close.
glass wrote:Been watching the usd last few weeks last few weeks small changes 3-4 cents
Today was 75 cents down??
beauanderos wrote:68Camaro wrote:beauanderos wrote:$47 tomorrow on short-covering rally
As I think that's what's going on, I wouldn't bet against 48 tomorrow, maybe 50 by Friday close.
I think the markets are closed on Good Friday... so how about if we celebrate Great Thursday?
68Camaro wrote:And I happen to wake up to let the dog out, check the price, and we've officially just hit $46, with the dollar about to dip into the 73s...
AGCoinHunter wrote:This is becoming scary.
Jonflyfish wrote:First full allocation complete with a short @ 42.74.
TXBullion wrote:Can you elaborate on the US Dollar Index ?
At its start, the value of the US Dollar Index was 100.000. It has since traded as high as 148.1244 in February 1985, and as low as 70.698 on March 16, 2008, the lowest since its inception in 1973.
68Camaro wrote:TXBullion wrote:Can you elaborate on the US Dollar Index ?
What do you want to know? I hate to presume either ignorance or knowledge. One of my key talents is to be able to re-state the obvious!
I presume you all know that it is a market-basket of key other currencies, weighted by type (Euro, yen, pound, canadian $, swedish krona, swiss franc) relative to the US dollar. Look it up on wiki (U.S. Dollar Index) for details.
The original weighting was set at index of 100 = par with dollar. A value higher than 100 indicates that the dollar is stronger than the weighted average. A value lower than 100 indicates the dollar is weaker. From the wiki articleAt its start, the value of the US Dollar Index was 100.000. It has since traded as high as 148.1244 in February 1985, and as low as 70.698 on March 16, 2008, the lowest since its inception in 1973.
(Note these values quoted above aren't the closing value high/low, but the intra-day high/low.)
A number of conservative analysts who are smarter than I am say that a closing value below 72, in a downward trend (and especially given the weakened state that both the US and the world are in) is a strong indicator of signficant trouble. They believe this is one of the key warning indicators of imminent collapse (note that we were "there" in 2008, but QE 1 staved it off, temporarily). 72 is not a literal hard, fast rule, but anything near that value needs to be considered. The closer to it the more the warning bells should be going off. If we pass below 72 and things haven't collapsed, the further below 72 we get, the more conservative positions should become. And at that point, make sure you are stocked up, and your powder is dry, literally. There are no doubt other clarifying indices that need to be considered with this. I'll continue to post any strong conclusions that I hear from the newsletter summaries I get.
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