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Friday, December 19, 2008

Euro Explodes to New Highs, Silver Moves Along It's Average ...

"You got to know when to hold 'em, know when to fold 'em. Know when to walk away, and know when to run" - The Gambler, Kenny Rogers

With the unprecedented rate cut by the Fed with a "target" between 0.00 and 0.25%? The U.S. Dollar has collapsed, erasing all of it's strength. Which was a fantastic opportunity and trade on the Futures Euro. This one was almost a gimme.

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But it's time for Dan to exit stage right when it comes to the Euro. No need to be greedy.

But I also need to talk about a trade that has not been quite as explosive. Silver.

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I'm still holding on to my Silver position. I can see $12.00 to $12.50 easily in the next few weeks. However, I'm prepared for lower prices if everything deflations, and the Euro trade will more than make up for any losses that may be triggered in the Silver move ...

Unfortunately, this week there was a conflict between my BlogTV schedule and some family responsibilities. As much fun as I have with the BlogTV show folks? I have to put my family first. But stay tuned! The next BlogTV show will be on Friday, January 2, 2009 at 5:00 pm EST.

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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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