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Pastimes : The Philosophical Porch
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From: Rarebird2/19/2010 9:26:34 AM
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Transcendental Market Truths:

The Market:

I suspect that the market was being forced higher yesterday in order to maximize profits for short sellers.

After the cash market closed, the Fed raised the short term discount rate to 3/4%, signaling that their zero-interest rate policy would soon be ending. Stock index futures fell sharply, dropping to near the lows of the week within a few minutes. More importantly, the Euro hit the skids.

Stocks will eventually follow the EUR/USD to the downside. In a secular bear market a rising dollar is a bearish indicator; in a secular bull market, a rising dollar is a bullish indicator for the US economy and is not necessarily a bearish indicator. This is a crucial distinction that many fail to understand and can be quite costly if one fails to implement the proper strategy based on the type of market one is engaged in.
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