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MID-DAY MUSINGS

  • What a dramatic turnaround this morning!  Stocks are trading with a perfect inverse correlation to the dollar.  This morning’s sharp turn in the market is the direct result of the rising dollar.
  • Could the sell-off be the result of no buyers at these high valuations?   Sellers are just hitting the bids, but the bids don’t appear to be there….
  • The rally in the dollar is impressive, however, the near 10% rally in the VIX is even more impressive.  Is short covering in the dollar resulting in a reach for downside protection?

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