Two Ways: Geithner Tries to Soothe the Saudis
Strengthen your portfolio in good times and bad.
According to the Financial Times, Geithner also said the US is committed to maintaining accessibility of its economy to foreign countries and expanding global trade.
Geithner was set to hold talks with King Abdullah and Saudi economic officials late in the day. In prepared remarks, he said Saudi Arabia would have an "important voice in building cooperation on a more robust framework for the prevention of future crises."
"The policies of the United States are designed to lay the conditions for a strong dollar," he said. "We are very committed ... to making sure that as we get through the crisis, we bring down fiscal deficits and we reverse these extraordinary interventions we've taken."
Also read Professor James Andreson's China, US Look Like Another Bubble in the Making for more on the global picture.
From the Bull Pen: Are we just suppose to believe in the strong dollar talk especially with such massive spending programs in place. One can look to GDX if he/she believes the correction in the precious metal has ended. A sell stop can be set below $35-ish.
From the Bear Cave: Not all commodities are created equal. Supply of natural gas seems to be increasing by the day. Thanks to Minyan Rob, check out this story of a new nat gas pipeline. A rally in UNG to $14-ish could be an opportunity for a downside entry. If and when.
Another day down; tomorrow's already the hump. Have a great night!
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