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Currencies

October 31, 2009 - From its 74.97 low in mid-October, the US Dollar Index has bounced 1.8%.  Occasional swings of a percentage point or two are to be expected, as markets never move in a straight line.  So this latest bounce is not significant and in fact is hardly noticeable on the following chart.

This chart remains bearish.  Both the long-term and short-term trends of the US Dollar Index are pointing lower.

We last lowered the stop-point on our short position in September.  I suggest keeping it at the same level for the time being.  For my specific trading recommendations, see Trading.


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