Monday, December 17, 2012

Friend or Foe

Although the SPX is roughly back to where it was after last Wednesday's Fed meeting, the NDX as well as some of the more emotional risk proxies have continued to wilt. Despite the assessments by the savvy central bank game theorist of one David Tepper, in which he believes the proverbial put is still present, just with a European accent - we remain cautious coming through a time frame where we anticipate the US dollar to once again find a strong bid. The dilemma of course downstream is determining the impetus - of which could run the gamut. Friend or foe continues to be our concern.