About Currency Currents

With Currency Currents, you can stay tuned-in to our current global-macro view and our analysis of key investment themes driving currency prices.

We consistently focus on the key asset classes responsible for the flow of global capital -- including equities, fixed income, commodities and, of course, currencies.

Nothing is off limits to us in this free-wheeling look at the markets. Some days you’ll receive ramblings on trading psychology, while other days we may take an academic approach in explaining esoteric economic issues. Ultimately we have one goal in mind: to help you get a handle on the key investment themes driving global capital flow. Because if you know where the money is going, it increases the probability that your position in the market will be a profitable one.

Who is Jack the Pipper?

Jack Crooks is Black Swan Capital LLC, President and Chief Trading Officer.

Jack is founder and president of Black Swan Capital LLC. He has also operated a discretionary money management firm specializing in global stock, bond, and currency asset management for retail clients. In addition, he was general partner in a firm specializing in currency futures and commodities trading. Neither firm is now in operation.

Prior to entering the investment arena, Jack worked in various corporate finance positions. He has written extensively on the subject of global currencies and international economics.

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"All one market" concept - does gold lose its luster?

Posted 2 years ago | 12:32 PM | 22 Nov 2010

“All one market” concept – does gold lose its luster?

EURUSD Hourly: testing support at the 72-hour moving average after the 32.8% retrace.

S&P 500 (red) versus Financials Fund ETF XLF (black): Big divergence in the financials -- not a sign of underlying economic strength for sure ...

S&P Hourly Bar: A nasty break in store today?

We read Robert Prechter’s November Issue of The Elliott Wave Theorist with interest. He talked about the “all one market concept” we consistently see in the various correlations (as we are seeing today). The all one market concept, by viewing “tops” soon after the Fed officially announced QE2 on November 3rd, suggests that all good liquidity news was already in the price:

Gold: In Prechter’s monthly letter he showed a trend line on gold running back to 1932. Amazingly the trend line was near the exact monthly top of $850 back in the mid-70s and extending it produced a top resistance today that was a test of $1410 per ounce. If you are looking to hedge your gold holdings, we like long DZZ (PowerShares DB Gold Double Short) ... not a bad risk:reward trade here. You know exactly where to exit this fund (low of $7.90); this fund trades inverse to gold.