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Two Ways: Bernanke On Stage in Jackson Hole


Strengthen your portfolio in good times and bad.

Fed Chairman Ben Bernanke speaks from Jackson Hole, Wyoming today as central bankers around the world gather there to discuss the next steps in resolving the global financial meltdown. His speech is likely to focus on lessons learned from the crisis as well as strategies going forward, according to a story in the Associated Press.

Bernanke's challenge is how well he will be able to quietly withdraw parts of the trillions of dollars he flooded the markets with to save the banks without choking off lending to businesses. All this while managing to contain inflation.

See Minyan Peter's related article, Behold the Powerful Swiss Approach to Convertible Debt.

From the Bull Pen: Minyans may know that there really isn't an exit strategy for the Fed, and with a looming problem in the commercial real estate sector, the central bank may be forced to print even more. Consider the gold ETF (GLD); traders can set a sell stop below recent lows (near $91). The goldminers ETF (GDX) is also an option; a sell stop can be set below $37.

From the Bear Cave: As PIMCO's Muhammed El Arian said yesterday, there's no question of the coming weakness of the dollar. The real risk is that we will get a disorderly decline. Hedging your portfolio with the dollar bearish fund (UDN) isn't such a bad idea. A sell stop can be set below $27.

Quick Check Around the World

Asian trading closed with the Nikkei -1.40%, India +1.52%, Hang Seng -0.64%, Shanghai +1.69%, and Taiwan -1.16%.

Across the pond, we see the FTSE +1.02%, CAC +1.61%, DAX +1.73%

As of 8:20 AM EST, S&P Futures are trading +6.00 to 1010.00 and Nasdaq futures are +5.00 to 1619.00.

A Look at Commodities

Over in commodities, crude oil is trading +1.04 to 73.95 while gold is +4.20 at 945.90 this morning. Silver is +0.135 to 14.02 and copper +6.150 to 280.30.

The dollar index is -0.5230 to 78.0400.

On the Radar


10:00 Existing Home Sales 5.00M (cons.)

Minyans, have a great day and an awesome weekend!
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Position in GDX

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