Oct 20, 2004

In a tizzy

The dollar continues its gradual weakening, financial stocks are getting thumped, and there appears to be a flight to quality trade taking treasuries higher. The world sure seems to expect this insurance investigation to create greater problems for the banks. And as far as market impact goes, could C have picked a better night to can some managers?

I am still in the show me camp about this issue but will be probably try to hedge my views by shorting the banks on a bounce. The semis still need to base out a bit in my view but they may be a good place for shopping. And I am getting a bit worried that gold and gold stocks will not pull back this week as i had hoped.

Position in TLT


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