Wow! Wow! Wow!
“We have dropped nearly 3% in about the last 5 trading days. Euro longs are getting nervous, we see them buying puts to hedge against their long positions.
We sold the US dollar on rumors of QE2, and similarly we will take profits on the announcement of the ECB rasising rates. We plan to book our profits as I said along with the April 7th ECB raising of interest rates.””
“The precious metals are giving a clear message, namely that the dollar is in trouble. Gold and silver are near their recent highs and this shows both markets, the dollar and the metals confirming the trend.”
“At some point there is going to be a panic as the flight from the dollar moves from the relatively orderly retreat we are currently witnessing, to a stampede. The charts are telling me that panic is about to begin. As I mentioned in a KWN blog earlier this month, I believe the next leg down in the US dollar will shock the world.”