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COMMODITIES DOWN ON STRONGER DOLLAR

|Includes:DJP, EEM, EFA, EPHE, EPI, EWC, EWG, EWJ, EWP, EWT, EWZ, FXE, GDX, GLD, GXC, HYG, IEF, ITB, IYT, JJC, JJG, PGF, QQQ, RSX, SLV, SPDR S&P 500 Trust ETF (SPY), TLT, UGA, USO, UUP, WM, XBI, XLB, XLE, XLF, XLI, XLU, XLV

Planted rumors, by Iran evidently, of an explosion to a critical Saudi oil pipeline were evidently false. But some still believe it occurred. And, just before the close Friday another rumor appeared suggesting an oil complex explosion in Yemen via Bloomberg.

German Retail Sales fell 1.6% instead of an expected gain while Spain raised its projected budget deficit to 5.8% of GDP versus previous 4.4%. These events combined to rally the dollar rally and cause a drop in commodities (priced in dollars). Gold (NYSEARCA:GLD), silver (NYSEARCA:SLV), oil (NYSEARCA:USO) and base metals (NYSEARCA:JJC). U.S. 10-year Treasury Bonds (NYSEARCA:IEF) was stronger with the yield once again below 2%.

It is a little surprising the dollar rallied (.80%) on this news since both Goldman Sachs (NYSE:GS) and Bank of America (NYSE:BAC) downgraded their expectations for U.S. GDP to 1.8% from 2.2%. Meanwhile, respected ECRI (Economic Cycles Research Institute) is also on record seeing a recession ahead.

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Stocks: SPY, WM, QQQ, XLF, XLI, XLB, XBI, XLV, IYT, ITB, XLU, IEF, TLT, HYG, PGF, UUP, FXE, GLD, GDX, SLV, JJC, DJP, USO, UGA, XLE, JJG, EFA, EEM, EWJ, EWC, EWG, EWP, EWT, EPHE, EWZ, RSX, EPI, GXC