I can't stay on the Sidelines when I can take advantage of today's manipulation
Stocks down today on Dollar strength & Greece downgrade.
LOL, Greece gets a downgrade and US stock futures fall?? Greece is a tiny share of US markets mainly only Drybulk shipping, (Majority of drybulk shippers are based in Greece.) The dollar rising is also short-lived, The FED is still not gonna raise rates till 2nd half of 2010. No matter how you look at it, the dollar will still revert back to falling at least until March or April.
Another thing for bears to worry about is the fact that the markets never go down on rising interest rates. The main reason rates go up is because of a strong economy and when the economy is strong PE's get lower and thus stock prices adjust by going up.
Stocks go down when interest rates are declining, rates are lowered because the economy is crashing and stocks then crash as well.
Shippers like Fedex and UPS are perfect indicators of the economy and when I see FEDEX giving guidance like they did today, I know stocks will be reporting strong earnings. Because when Fedex is shipping on the upside that means the economy is turning around strongly.