http://www.stockrake.com

Did we get a signal today that the US dollar is ready to rally? Commodities got slobber knocked. Steel, coal, shipping stocks, ag stocks, oil and oil stocks as well as alternative energy stocks, you NAME the stock it got crushed today. However, the financials held up.

Commodities go down, dollar goes up and with the FED speaking tomorrow it may provide the catalyst for the US dollar to move higher.

Today’s action displayed that the oil up market down and vice versa story is NO LONGER the theme. I’m predicting based on what we saw today that the firming of the US dollar will cause a rally. I don’t know how long it will last, but that a rally will likely happen this week or next. I’m positioned heavily for that scenario, but I have some powder dry to buy more ETFs.

**late edit: If you are interested in playing the movement in the US dollar you can use double beta 2x leveraged ProShares etfs UUP (for bullish bets on the dollar) and UDN (for bearish bets on the dollar).

I’m currently heavily invested in the 2x long index funds which I bought into this morning when the market was down so today’s selloff back to morning lows did not affect me. I also bought UWM and QLD at the lows of the morning as well.

I sold SPWR today as well. Sort of a stop out there of 9% loss. Chart had a setup, but it got destroyed today. Shit happens.

Two stocks showing up on my new “experimental junk” are EJ and PPH (pharmaceutical ETF).