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by The MoleNovember 12, 2010

I mean, this is getting embarrassing – just like Rodney Dangerfield the Dollar bulls just can’t get no respect…

Commodities however are telling the opposite story and equities are down despite a looming series of POMO auctions starting today. Let’s look at a few charts:

That juicy lemony line proved to be too much of a hurdle and the DXY got refused at its first attempt. However, that doesn’t mean there won’t be another attempt, so unless we drop much further from here let’s give this a chance.

I’m starting to think that I have what I would describe as an ‘inverse Midas Touch’ – every time I talk about a precious metal chart (going exponential) it turns within a day or two. Nice – I wish I could use those newly acquired super powers on equities – but so far no dice.

But if you think silver longs are being punished – think again! Take a look at sugar, which is starting to look more sour than sweet this afternoon. Ouch – that’s gotta hurt! Looks like my ‘inverse Midas Touch’ extends to other commodities [cracks his knuckle’s in anticipation of further mischief).

As the old saying goes – chasing an exponential curve only works until it blows up in your face. Oh, it’s not an old saying? Well – it is now! 😉

Cheers,

Mole

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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