Wasn’t it just yesterday when Gary Kaminsky told the desk that a stronger dollar should make stocks rally? What happened?
If you were watching Fast Money on Wednesday you probably remember Kaminsky said the stronger dollar generated new sectors of leadership, specifically, the industrials, airlines and retailers all benefit as the dollar gains.
And it keeps a lid on prices at the pump – arguably the most important influence of all.
Yet on Thursday stronger than expected GDP – a sign of economic strength – sent the dollar lower.
The action in the dollar is definitely all about GDP," says Brian Dolan, chief strategist at Forex.com.
Given the correction that we've had over the last few days, some people are looking at this as a buying opportunity to get back in (risky trades) and sell the dollar on a bounce.
That’s right, echoes Tim Seymour. People are selling dollars to buy riskier assets.
So what’s the trade?
I’m short the TLT and long the TBT, counsels Karen Finerman as a bet against the long-end of the curve.
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Trader disclosure: On October 29th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (AA), (BAC), (BX), (EEM), (MYL), (INTC), (MSFT), (VALE); Seymour Is Short (FXI); Grasso Owns (AAPL), (ABK), (BA), (C), (COST), (PFE), (WMT), (FAZ); Terranova Owns (IBM), (QCOM), (GS); Finerman Owns (BAC), (PDE), (TGT), (WMT); Finerman's Firm Owns (PDE), (FLS), (RIG), (TBT), (YUM); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (UNG), (TLT); Jon Najarian Owns (INTC) Calls, Jon Najarian Owns (AMD) Calls
For Steve Grasso
Stuart Frankel Owns (MSFT)
Stuart Frankel Owns (PFE)
Stuart Franked Owns (SDS)
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