Has there ever throughout history been a single market that has been talked about more than the U.S. dólar? It’s not just investors who debate the alleged issues of the world’s benchmark currency, but economists, governments, central banks and the average person who seems to think it is affecting their life. The dollar has been in a significant down trend for a number of years. Mainstream thinking seems to believe it’s a problem. It’s not. In fact, the dollars decline is the perfect solution for an economic system that has many spokes in the wheel. But that’s not what is being addressed here. The issue being addressed now is why trade any currencies at all.This doesn’t imply the currency desk at Goldman Sachs, e outros, should head out for the holiday break early and come back in a few years. The analysis is about a relative comparison of possible trades between currencies, commodities and the thousands of hot stocks that investors can jam into their portfolio. This isn’t a suggestion that currency markets are going to go flat. It’s based on the increasing deterioration in the relative strength of currencies and the increasing out performance in several commodity markets and top performing stocks. One of the better performing currencies is the Australian dollar. It has been consolidating since early November, nearly completing a full recovery. But its relative strength line continues to decline. In fact, relative strength (R.S.) has been falling since August 27th. That’s a sell signal.This is not unlike our recent analysis, and conclusion, of the bond market which is to ask, why attempt to go bottom fishing in the bond market? Anybody who has done so in the last two months has paid the price for it. For the average investor, investment advisors, and most fund managers who have the flexibility the far more reliable and profitable trades are in the stock market. We have been pounding the table on several commodity markets which can be traded with E.T.F.’s. Those include cotton (BAL), café (JO), milho (MILHO), açúcar (SGG) and tin (JJT). That’s certainly not at the exclusion of gold, silver and copper. But the R.S. line the E.T.F.’s of these commodities are also in decline or flat lining. That’s because the stock market has taken over!