16 Minutes....

Earlier today, the euro rose above the $1.50 level for 16 minutes.  Either we get a turn here in the dollar for a minor rally, which will conversely make other asset prices sell off a bit (which they all need), or we get a breakdown where the euro breaks the $1.50 level and holds it, implying a lower USDX and higher asset prices.

It may go either way.  Frankly, we're hoping for some dollar strength to present better buying conditions for assets, but we'll take whatever the market gives us.  We'll be buying select gold mining and energy stocks if the dollar rallies a bit and works off the overbought conditions on assets.  If not, we'll be buying ETFs that track the gold miners, gold, and oil as a trade.  We prefer to accumulate assets that we would be happy holding indefinitely during good buying opportunities, but if we're chasing momentum, ETFs will do (with tight stops).