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What would you do at (5)? Does the situation at (2) look anything like (4)? (The outcome of this chart could well impact the construction of portfolios!!!)
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I’m long the dollar in here.
If we do break down and take out the all time lows I think the prior bankable market relationships will break down. The body politic can handle a lot, as current times prove, but if it gets connected with Drudge screaming the “Dollar plunges to all time new lows”, I think the public might finally snap. Basically a new version of the Baker dollar comments on the weekend before the 87 crash.