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Dollar Made New Low: We Made Same Mistake As I Warn About Often…. “Listening To Experts”

April 22, 2008 9:49 PM

I repeatedly warn to ignore all the talking heads and their nonsensical hype. They are mostly wrong. There was so much talk about the dollar reversing, from both overseas bankers, governments trying to talk up the dollar, and Wall St., so I bought into it. The problem was the chart said the dollar was going lower. Once again, the chart wins. Another all time low on the dollar today.

The problem is I said caution on all commodity stocks the other day, and they all did pull back, on that exact presumption. The problem is, they were all wrong. Plunging dollar is causing all commodities to soar. While I do believe that we are in a bubble on a massive scale in all commodities, and will implode at some point, i have no idea when that point will be. Bubbles almost always last FAR longer than anyone expects.

This has caused CHK to spike far higher along with most others. While i did say LONG CHK way back at about $44.00, I also warned caution was in order the other day, which has proved dead wrong.

There. We were wrong. I told everyone we would EVENTAULLY be wrong. While it wasn’t a direct trade that was wrong that would show up, we were wrong, nonetheless. Hmm…I don’t care much for being wrong…but that’s the market.

Written by Tom@StockBlade.com · Filed Under CHK 

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