Dollar getting pounded to save the market The mar
Post# of 474
Posted On: 11/14/2012 2:10:22 PM
Dollar getting pounded to save the market
The market trades inverse to the dollar, and the UUP which is the dollar index ETF just got pounded for 4 cents on a 10 minute bar. This sounds like nothing, but 4 cents could be the move for an entire week and it just did it in 10 minutes.
This is an attempt to save the market by inflating it. As mentioned earlier we are heading into the light volume holiday week and the powers that be don't want a 5% sell off ahead of Black Friday.
If you are short put some stops in or better yet take a little off to lock in some gains.
[IMG]http://i.imgur.com/mS8MO.png[/IMG]
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