I'm Exercising My Right to Be Wrong

Twenty years ago, Jim Cramer used to write a column titled "Wrong." I don't know why he stopped, likely because he is more time constrained now than he was then, but with a nod to Jim, today I am going to note some of the charts I have been wrong about lately.

Let's start with the dollar. In the middle of last week, I noted that the Daily Sentiment Index (DSI) for the dollar was at 6%. This means a mere 6% are bullish on the buck, or 94% are bearish. As of Friday, that was down to 5%. I noted that the last time we had seen a DSI this low was late April 2011, and the dollar soared thereafter. While I could not find a reason on the chart to believe we'd see a rally, I still thought there'd be one. And so far we've had a one-day bounce and then another plunge. No doubt about it, I am wrong....327 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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