Diamonds and Dogs
Stocks Rally with the Falling DollarStocks Rally with the Falling Dollar
The US dollar, whether it rises on the news of a Chinese interest rate hike (Tuesday), or whether it falls on the news of more Quantum Easing is the puppet master to the stock indices these days. Today we rallied back almost what we lost on Tuesday as strong earnings reports, a falling US dollar, and less panic on the bank front sent stocks flying. Macro-economic events are triggering buy/sell programs daily and for traders it is best to be on the side of the electronic trading crowd. Thankfully, the algorithmic nerds are in the mood to buy right now so get on board until the music stops at the end of the month.