Two Ways: Dr. Bernanke's Own Bubble
Strengthen your portfolio in good times and bad.
According to the New York Times, the chairman looked more like a political candidate on a campaign trail. The Fed has never possessed so much power as it does right now, but growing pessimism from the public, as well as from the likes of Representative Ron Paul, is making Bernanke's future very uncertain. The chairman's term is up in January and President Obama will have to decide whether to nominate him or replace him with another choice.
From the Bull Pen: As Professor Lance Lewis has mentioned, the Fed simply has only two options: default or debase, and both lead to higher inflation. The silver ETF (SLV) may be an opportunity. A sell stop can be set below recent low, near $12.25.
From the Bear Cave: A look at the dollar index (DXY) and we see that the greenback could be headed for new lows. Bears playing the downside can use the bearish dollar fund (UDN). A sell stop can be placed below $26.30.
Quick Check Around the World
Asian trading closed with the Hang Seng 1.35%, India -0.03%, Shanghai 1.86%, Nikkei 1.45%, and Taiwan 0.79%.
Glancing towards Europe, we see the FTSE 0.30%, CAC 1.08%, DAX 1.15%
As of 7:55 AM EST, S&P Futures are trading +0.25 to 978.00 and Nasdaq futures are +1.00 to 1598.25.
A Look at Commodities
Over in commodities, crude oil is trading +0.59 to 68.64 while gold is +4.900 at 958.00 this morning. Silver is +0.180 to 14.06 and copper +5.20 to 257.00.
The dollar index is -0.2750 to 78.6200.
On the Radar
10:00 New Home Sales 355k cons.
Click here for the full trading radar.
Good luck today!
Ben Bernanke shows up for an exclusive interview with Hoofy & Boo...or does he?
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