Greenback Getting Hammered, Therefore Any Risk Asset On Earth Can Be Bought

There is really no reason to offer complicated reasons for said rally. After the premarket mark up tingled the microchips of HAL9000, the dollar continues to get hammered and therefore any risk asset on Earth can be bought with impunity. Thousands of PhDs at quant funds across the land deem it so in their collective wisdom, so first grade logic it must be.

PowerShares DB US Dollar Index Bullish (UUP)

The NASDAQ and Russell 2000, coming into the week ahead of the S&P 500 now sit at or just above resistance. The S&P 500 is still 7 points away from reaching the same point but nothing the next premarket rally cannot take care of. Or if they can hammer the dollar another 0.3% or so, perhaps this afternoon.

Apple is doing its part…

Apple (AAPL)

And Freeport is almost there… and with those 2 stocks all that matter to the hedgies, all the momo guys will be back…

Freeport-McMoRan Copper & Gold (FCX)

About Mark Hanna 542 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

Visit: Market Montage

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