Daily Investment Interpretations
May 13, 2011
(Friday Night): The dollar rose
and the markets rose today, after initially falling on less-than-stellar
economic news: Dow
declines for the week. The NASDAQ Composite added
to close at 2,828.47.
The Dow gained 100.17
close at 12,595.75, while the S&P 500 advanced 10.88
to close at: 1,337.77. Oil dropped to $99.34; Gold
tumbled to $1,494. The VIX climbed 1.04
David Moenning observes that Wall Street it running the same old dollar-up-stock-markets-down play that has worked so well for them over the past year or so. When threatening economic clouds appear out side the U. S., foreign money seeks the safe haven of the world's reserve currency, the U. S. dollar, the dollar rises, and U. S. stock markets fall: Run It Again!. Berkshire Hathaway's Charlie Munger warns that high-frequency trading (HFT) is a legalized form of using inside knowledge to play the stock market: Berkshire's Munger: HFT is Legalized Front Running.