Wednesday, October 13, 2010

Watch the Dollar

The dollar is not selling off against the majors despite a healthy gap up in the futures.  This is a sign of exhaustion for the dollar down move, I am getting more negative on the market here and have put in a short position.  Yesterday on Fast Money, the complacency was quite thick after INTC came out with ok earnings and everyone was afraid to fight the trend.  A pullback is right around the corner.

P.S. - There was a Barton Biggs sighting on CNBC yesterday.  He was very bullish.

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