When former Vice President Walter Mondale approached me in the lobby of the Waldorf Astoria I hardly knew what to say. I was alone and standing still, to take one last look at the interior of the famed hotel before leaving. I wasn’t a guest. Thirty minutes earlier I had walked in off the street in casual clothes just to see the place. I saw nobody else, no guests or bellhops, no comings or goings at all. The strangeness of this made me think it may be just a slow time of evening.
But, suddenly, I sensed a person approaching slightly behind me and to the left. I turned and focused on the smiling face of the man who had been the Vice president of the United States just months earlier, and would be the Democratic nominee for President some three years later. The year was 1981 and I was 23 years old. Why was he approaching me? Did he mistake me for someone else? Where were the other members of his party? (I saw no one else, but assumed other people were surely around.)
He didn’t speak first. Former Vice President Mondale just looked at me and smiled, waiting for me to say something. Alas, I don’t remember what I said or even if I spoke at all; at most it was very little. He then looked puzzled and walked away.
In more recent years I’ve reflected on this odd incident in my life: I count it a missed opportunity. It happened many years ago indeed, and we all know that hindsight is 20/20. Yet it still invades my consciousness now and then. I should have spoken up -- and after initial niceties, gushed out my ambitions and dreams to the former Vice president. At the time I was just out of college and working for a pittance. He knew countless important people; one phone call or introduction could have made an untold difference. It might have changed my career and life for the better. I regret that I’ll never know.
Chance moments of that sort rarely come along. Then again, your life may include several opportune moments within a short span of time.
But the chances are you won't find them where everyone else is looking!
Practically no one else was looking for the dollar to rise late in 2009.
Yet at Elliott Wave International, we have all but shouted out our forecast for a rising dollar for months -- a highly contrarian position. So strong was the sentiment for an ongoing dollar decline that near the recent bottom, an investor’s poll showed only 3% were bullish on the dollar.
But if you've seen a chart of the dollar since the start of 2010, you know the change of trend appears to have already gotten underway.
Even so, that trend remains on "opportune moment."
Let Jim Martens be your guide. He’s our Senior Currency Strategist and editor of EWI’s Currency Specialty Service. He’s served as a technical analyst at the COMEX Exchange, and worked with Nexus Capital LTD., a hedge fund affiliated with George Soros. You can read and watch his forecasts. He provides video forecasts at least once a week. Jim has used the Elliott Wave Principle since 1985. He knows it like the back of his hand. It’s important to know how long Jim has forecasted using Elliott waves. He identified the recent bottom in the dollar when almost everyone else was bearish. Now Jim Martens is using Elliott wave analysis to forecast how much farther the dollar has to go.
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