Seeking Alpha

InTheMoneyStock...'s  Instablog

InTheMoneyStocks.com
138 Followers
3 Following
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
InTheMoneyStocks.com
My blog:
Pro Traders Rant and Rave Blog
  • Investors Put On Their Bear Costume For The Day 0 comments
    Oct 31, 2011 10:20 AM | about stocks: FCX, X, AKS, SCCO, JJC, VALE
    This morning, all of the major stock indexes are trading sharply lower. The problems in the European Union and the possible bankruptcy of MF Global Holdings Ltd (NYSE:MF) seems to be too much for investors. The real catalyst for today's decline is the strength in the U.S. Dollar Index futures (DX Z1), which are trading higher by 0.94 cents to $76.15 per contract. When the U.S. Dollar Index rallies the major stock indexes deflate and trade lower. Since October 4, 2011 the U.S. Dollar Index has declined sharply lower helping to inflate everything under the sun. If the U.S. Dollar Index declines intra-day it would be prudent to expect an intra-day bounce of the lows for the major stock indexes.

    Everything that is metal related is trading lower this morning. Leading stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX), iPath Dow Jones-UBS Copper Subindex Total Return ETN (AMEX:JJC), Southern Copper Corp (NYSE:SCCO), and U.S. Steel Corp (NYSE:X) are all under sharp selling pressure today. These stocks will usually be the first stocks to be effected by the stronger U.S. Dollar Index. If the U.S. Dollar Index fades throughout the trading session these stocks are likely to bounce off the morning lows.
     
    Nicholas Santiago
    InTheMoneyStocks.com

    Stocks: FCX, X, AKS, SCCO, JJC, VALE
Back To InTheMoneyStocks.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Full index of posts »
Latest Followers

StockTalks

  • Weak US Dollar, easy money = GOLD Higher $GLD
    Feb 21, 2012
  • For technical traders, yesterday was a buying opportunity. For the other 99%...http://bit.ly/qmvOpq
    Aug 11, 2011
  • April gold finished higher by $12.90 to close at $1,414 an ounce.
    Feb 23, 2011
More »

Latest Comments


Most Commented
Posts by Themes
stocks, $EWH $FXI $EWJ, 10 year, 200 moving average, 2012, AAPL, ADP , ADP Employment, ADP Private Jobs Report, ADR, agriculture, Agriculture, ainvesting, airlines, AKS, AMZN, Apple, ARUN, ASCA, Asia, AT T, Auto, Automotive, AXP, bailout, banks, Banks, Bernanke, BIDU, Blackberry, BLK, bonds, bounce, broadcom, BYD, case shiller 20 city index, CAT, China, china, citrix systems, CLF, coal, Coffee, commodities, commodity, construction, copper, Cotton, cotton, CPI,
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.