Dollar UP
OIL UP
GOLD DOWN
STOCKS DOWN (ever so slightly)
Divergences in the famed carry trade are popping up all over the place. I could give a rats ass about these relationships as I believe its just a simple case of fooled by randomness.
You can be sure at these "trading firms" the Asian and Russian geniuses are standing infront of 10 foot whiteboards trying to grapple with the fact that the algos are failing them this morning.
I guess the news is that there are massive equity offerings coming from Wells Fargo and Citibank in the next day or so - $30 billion in total. Im sure this will be gobbled up easily and then the pros will be clamoring fro yet higher stock prices...blah blah, wash, rinse, repeat.
Best Buy posted numbers this morning thus far the stock is selling off to the tune of 5% - the bald guy is allready out defending BBY as the script continues to be leaked to him everyday from the powers that be at GE. Obama's hypocrisy is really making my stomach turn.
JB
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