*twitch* Money concerns

[danaeris]

So I have this money. In Canadian dollars. And the US dollar has been plumetting, so the value of that money to me has been skyrocketing. The exchange rate three months ago was like .62, now it is nearly .72. That means for every $10,000 I have, I actually gained about $1000.

Well, for the last few weeks it has steadily climbed upward. Today it went down for the first time in a long time. Just a bit. Like, it was .718 and now its .716, or something like that. But now the game begins. When do I sell? When do I change all my money?

Part of me wants to bail now; could it possibly get any better than this? I don't remember it ever being better than this when I've paid attention to the Cdn. dollar in my past.

My brain says that I need to hold on. It is just a small fluctuation and probably not part of a trend.

But all the same, I'm not sure how to judge all this. I have graphs of the dollars progress I can look at at x-rates.com for the last 120 or 30 days, and that's helpful, but not enough.

Financially clever folks... Any idea if the US dollar will keep on falling? Any idea if the Cdn. dollar will keep on rising? Any idea how to make decisions on this sort of thing?

Comments

[inki.livejournal.com]

These are all my rules for playing the stock market, which apply:

1) Don't get greedy. Pick a target and then transfer when you hit it.

2) Even better, split up the money and assign various chunks to various targets. I would do some right now, save some for later. That way, you don't get screwed.

However, the dollar will continue to tank until the US economy improves. That doesn't mean the Canadian dollar will keep rising in relation, though.

[londo.livejournal.com]

Not knowing anything about the Canadian dollar or what effects it... the US dollar is going down, probably will keep going down (especially with Soros playing games with it), and the traditional 'strong dollar' policy has been abandoned by the Secretary of the Treasury, whose reasons I can't fathom.

There was definitely a rate peak in mid-May, but whether you'll get a better rate than that as time goes on, I'm not sure. Any clue what effects the Canadian dollar?