Thursday, May 14, 2009

Dollar Pounding Continues Unabated

The DXY continues to tunnel deep inside 200 DMA territory, with equity momo day traders and overcaffeinated hi fi program traders taking a cue from the 2005 playbook and buying up equities, making even more impromptu follow on offerings not a question of if but when. Then again, nobody said bizarro market is over, and in this upside-down world dilution is a good thing.

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