Picture du Jour: Weak hands are heavily long the greenback
“Now this isn’t necessarily bearish for the dollar in the short-term. However, it means that when the dollar turns down again, it is likely to be a huge leg down as there are a lot of weak hands that will sell on any sustained weakness,” said the report.
Referring to the commercial traders, Roy-Byrne remarked: “The strong hands tend to be patient. They don’t bail on their positions easily. They were hugely short at the top in 2005, as well as a few months before the last top. Now they are more short than at any other time.”
Source: Jordan Roy-Byrne, Wall St. Cheat Sheet, January 13, 2010.
More on this topic (What's this?)
Rising U.S. Dollar an Obstacle for U.S. Multinational Corporations (Jutia Group, 5/27/15)
Gold Price Target of USD 2,300 (Gold Stocks Today, 6/26/15)
Mayweather Pacquiao Fight and the Declining Value of the U.S. Dollar (Jutia Group, 5/8/15)
Performance Optimization WordPress Plugins by W3 EDGE