New Year, But Same Old Trade

The new year is starting out with the same old trade - short the dollar and buy stocks and commodities.

While this trade lost some steam at the end of 2009, it was the overriding theme for most of the year. Today's action suggests that traders expect much of the same in twenty-ten. Who could blame them with the Federal Reserve and central banks around the world continuing their easy money ways.

The Euro is up about 0.6% against the Dollar today to $1.44.

Gold is up about $25, or 2.3%, to $1,120. Oil is up nearly $2, or 2.4%, to $81.23. The Dow is up 161, the Nasdaq is up 39 and the S&P 500 is up 18.

Related ETFs:
SPDR Gold Shares (NYSE: GLD) +2%
United States Oil (NYSE: USO) +2.2%
iShares Silver Trust (NYSE: SLV) +3.5%
Market Vectors Steel ETF (NYSE: SLX) +4.1%
Market Vectors Coal ETF (NYSE: KOL) +4.6%

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