The Morning Morsel: Sandisk Pops as Amazon Drops

“but for me…we would be in a worldwide depression”–Harry Reid

Futures are slightly higher after some mixed earnings numbers last night. AMZN missed and SNDK had a nice beat and VZ said that margins were under some pressure. The dollar is also slightly higher as traders may be covering some greenback shorts in front of this weekend’s G-20 sit down.

The last couple of weeks have been a combination of good earnings and lousy economic data, but the market continues to lift higher.

We tagged 1189 today and the battle at 1190-1200 could be epic, if we get there. I am watching the short Euro, long dollar trade here and may take some action there very soon. There is much chatter out of Washington that we may take a stand on the dollar. If it does turn from rhetoric to reality, there will be amazing opportunities on many fronts, so stay tuned.

Have a great Friday.

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