Tuesday, September 30, 2008

US Dollar Index Could Top Soon and Should Set Up Commodities For A Run Up

8 comments:

orangetrader said...

I agree with this completely. Thanks for the nice chart.

Orange Trader said...

Dollar rallying as of this exact moment. Stewie, starting to post my trades again if your interested in checking them out when you've got time.

Dan said...

If oil is dollar denominated then as the dollar strengthens wouldn't that put pressure on oil? I guess I don't completely understand the overall commodity relationship to the dollar strength/weakness. If you want to elaborate (or point to a link doing so) I would appreciate it.

Anonymous said...

Those of you who get to do a lot of day trading, could you name a few commodity stocks you could recommend for some swing trades? Thanks

Bluedog said...

Nice, timely chart. Thanks Stewie.

Anonymous said...

Gold tends to move inversely to the US dollar. So if the dollar peaks (and falls), gold should bottom (and rise). $XAU has a bullish looking chart with positive MACD look. ABX, NEM are a couple of gold stocks.

psy said...

ABX looks like it might have broken out of the bull flag

gamingthemarket said...

To answer Anon, I like the coal names like JRCC and ANR. Typically ANR is the strongest when the group rallies. Ferts have a tendency to follow coal with IPI and POT being similar trades.

Currently swing long ANR since today's close.

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