The Fred Report - Weekly January 19, 2010
Overall – we remain bullish on US equities intermediate-term, while acknowledging that the chances for a short-term correction right now are as high as they have been at any time since this summer. While we think that the TLT might make it to 93, this move is likely not worth trading, unless your primary market is bonds. Oil stock traders may want to look at hedging strategies here, such as covered calls, with the idea that oil could rest here, then have a nice summer driving rally. Overall, the action suggests that the buck remains in a long-term downtrend, but we still look for a test of the 82 – 86 area within that context.
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