Fannie Cuts Divy, Russian Tensions, and Morgan Freeman Goes Home
August 8, 2008
These three things have one thing in common. They have no bearing on short term market direction.
Its all about the US dollar. You are starting to hear about it on blogs and TV. The market is moving higher because of it. You heard it from here on August 4th. So I’m glad one of the great actors of our generation is ok and healthy, that news is not the reason the Dow is up 80, nor the RUT up 1.2%, nor NDX up 1%.
Russian Tensions? Will causes more dollar flow to US dollar and US markets. Pile on people.
Fannie cutting the dividend clears the deck of shorts wanting to stay with that stock.
PS dollar popping, and CAKE is up 6%, RT up 4%, SNTS up 6% and f$%king LLNW is now POPPING finally. Oh and KSS is up 3.7%. Can’t stop won’t stop. Oooooh I’m so happy I dumped ABAT. I some how forgot to mention that last night, but I sold it yesterday. Its down 16.8% today. Man that was lucky.
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