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Ira:
I have some contacts inside the Finance Minister's
Office in China and had dinner with one after one of
the Traders Expos I spoke at earlier in the year. They
had already exchanged more than half their dollar
exposure for non-U.S. assets at that time. They have
been quietly dis-investing themselves for about 18
months, whihc is one reason why U.S. trasuries have
slowly been slipping in price--they were holding a
ton. But they are holding much less now.
Just my 2 cents.
Tim Morge
www.marketgeometry.com
--- Ira <mr.ira@xxxxxxxxxxxxx> wrote:
> I have two targets below here. One at 74.50 and a
> long term target of 70.50. There is a rumor that
> China is moving a lot of its U.S. Dollar cash
> reserves into Euros. This does not look good for
> the dollar if it is true. Who really knows what the
> Chinese government will do. There is one other
> credit crises that hasn't been addressed out side of
> the lenders and that is the insurance companies.
> How many of them have put how much of your premiums
> into mortgage backed securities. Or just mortgages
> themselves. This will also impact the Dollar.
> There is also a crises brewing with the NASCAR Set.
> How high will the price of beer go with the
> increased cost of barley, hops and wheat? Another
> drain on the Christmas dollar. Maybe a six pack
> gift will do.
>
> Ira
> www.delta100.com
> ----- Original Message -----
> From: Jim White
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Wednesday, November 07, 2007 11:35 AM
> Subject: [RT] The Dollar
>
>
>
> We may be near a turn in the dollar decline. This
> week is a Near Impulse week for the dollar and
> Friday is a Near Impulse day which could mark the
> low.
> Jim White
> Pivot Research & Trading Co.
> PivotTrader.com
>
>
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