I think we are seeing some intervention to keep the dollar down and we may see some intervention to hold stocks or even push them higher.  It is a Friday and a lot can happen over the weekend.  EUO is up well on the day and I will probaby hold the position over the weekend.  I may buy TYH as a form of offset.  If the news this weekend is bad we can see the dollar rally strongly and if it is good we can see the stock market rally strongly - so EUO/TYH is a kind of paired trade
 
 
 
 
 

$$$$$

09/29/2011

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http://www.minyanville.com/businessmarkets/articles/dollar-carry-trade-yen-carry-trade/9/28/2011/id/37033?camp=syndication&medium=portals&from=yahoo
 
 
I took a quick profit in FAZ - day trading is not for everyone.  The dollar looks strong and has acted well in the face of what was supposed to be a "Euro Solution".  This would indicate that we may see more bad news from there.  This should be good for Gold and Silver but EUO  ( Long the US Dollar short the Euro and others) may be a safer place to play potential bad news and so I have gone long EUO and will hold the position for a while or until we start to see more positive news from Europe
 

FAZ

09/29/2011

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Financials have lead the rally today but I don't see that Europe has solved its problems and am buying FAZ with a buy back if it closes against me by the end of the day.  This is not trading that everyone should copy.
 

Waiting

09/29/2011

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FAZ

09/28/2011

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I have just sold the FAZ position I bought yesterday.  I think the market is more of a sell than a buy but will wait and watch for a while. So for now I have no positions.