Wednesday, February 27, 2008

Gold And The Dollar



Today Gold surged to a new all time high as the dollar fell to new lows. I've been totally wrong about gold and the U.S. dollar. I've been looking for the dollar to rally and for gold to sell off based on intermarket relationships which have served me well in the past but are failing miserably right now.

I'm still skeptical about this rally in Gold but one thing I've learned over the years is to never argue with the market. Fortunately there were no sell short signals issued on this blog in gold and my buy point to get long the dollar was never reached. I'll continue to remain on the sidelines and just watch these two markets and see what develops.

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