In other words, the stronger you think the economy is going to be next year, the stronger the dollar is probably going to be next year.
"If you think GDP surprises on the upside then the dollar probably surprises on the upside too."
What's the trade?
"If you think that interest rates are going up and the dollar is going up, it's death for the dollar carry trades," says Bernstein. "The currency gets more expensive. My guess in 2010 people bail out of those trades."
Looking for a stock trade. Bernstein has that too.
"If you agree with me that the dollar is going to appreciate, play domestic companies, that are smaller cyclical companies,” says Bernstein.
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Trader disclosure: On Jan 5th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Najarian Owns (BG) Call Spread; Najarian Owns (BP); Najarian Owns (CLF); Najarian Owns (MRVL); Najarian Owns (MS); Terranova Owns British Pound Futures; Terranova Is Short Crude Oil Futures; Terranova Owns (BAC); Terranova Is Short (CMA); Finerman's Firm Owns (CBY); Finerman's Firm Is Short (KFT); Najarian Owns (FCX); Seymour Owns (AAPL), (BAC), (BG), (F), (INTC), (MSFT), (MT), (TSL), (TTM), (VALE)
Add'ls Disclosures for For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
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Virtus Investment Partners Owns More Than 1% Of (EXR)
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For Gene Munster
Piper Jaffray Is A Marekt Maker In (AAPL), (GOOG), (EBAY), (YHOO), (AMZN)
For Craig Berger
FBR Capital Markets Is A Market Maker Or Liquidity Provider For (ONNN)
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