US Dollar: Capitulation?

When it comes to trade, there is no free lunch.  A lower US dollar helps US exporters.  But, for the US – a net importer by a huge margin – it raises the price of imports. So, it was really interesting to watch Treasury Secretary Mnuchin step in it explain that a lower USD would … continue reading →


Tip of the hat to central bankers, who have now officially pushed risk appetite to the highest level ever on record.Analysts might argue over whether it was the new administration, the tax plan, the loosening of regulations, etc. I’m partial to the notion that algos, driven by the manipulation of currencies, oil prices and VIX, … continue reading →

Final Destination

A reminder: our membership promotion is drawing to a close.  For a great opportunity to do well by doing good, CLICK HERE.  *  *  * It’s pretty rare to see a V-shaped recovery stop short of new highs.  But, it happened Wednesday and again Thursday.  What’s more, last night’s ramp job is rapidly unwinding as … continue reading →