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inthemoneystock (< 20)

This Chart Says It All



February 29, 2012 – Comments (0) | RELATED TICKERS: TECK , CL , XOM

This morning, the U.S. Dollar Index futures (ES H2) have surged higher from the morning lows. As we all should know by now, when the dollar climbs the stock and commodity markets will deflate and trade lower. That is ecactly what we are seeing this morning as the major stock indexes such as the Powershares QQQ Trust (NASDAQ:QQQ), SPDR S&P 500 Trust (NYSEARCA:SPY), and the SPDR Dow Jones Industrial Average (NYSEARCA:DIA) have faded from earlier highs.  

Some stocks that will be adversely affected by the stronger U.S. Dollar Index is Exxon Mobil Corp (NYSE:XOM), Cliff Natural Resources Inc (NYSE:CLF), and Teck Resources Ltd (NYSE:TCK). Traders must remember that commodity stocks are usually the first to fall when the greenback gains in strength.

Nicholas Santiago

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