Wednesday, January 20, 2010
Dollar Takes Off!
As the dollar is breaking above the 200-ema, the Euro is breaking below it's 200-ema. The crowded trade is taking it on the chin...gold, silver, oil etc...as well as stocks.
Strategy, add to energy position on this correction, lighten up on precious metals. Continue to like financials and technology stocks as I written about over the last few weeks. On the radar will be silver stocks such as Silver Wheaton, looking to add to that position (SLW) in the $15 range. Again use weakness to buy or add.