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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: blazenzim who wrote (92486)	3/19/2008 1:56:39 PM
From: Keith Feral	Read Replies (1) \| Respond to of 110194

Dollar is getting ambushed again today against the Yen. Looks like it's doing pretty well against the rest of the currencies. The lower than expected interest rate cut is great for the dollar and financials, but it also increases the probability for another 50 bp cut at the next meeting. All the people playing gold as a safe haven play got smoked today. Same with oil. I reduced half my oil position, and will quickly sell the rest if this begins to look like a secular breakdown for commodities. I liked the two extremes of my positions with bonds and financials at one end of the spectrum, and lot's of commodity stocks at the other end. The only energy stocks that seem to be doing well are the refiners which make more money as oil prices come down. I might look to rebalancing some of the e & p stocks that I sold with some refiners. Those stocks are just ticking off the lows in the past day or two..