Access Denied!

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