Zeev's Turnips Patch-No Politics (ZEEV)

[TJ Parker]

"there is a classic double whammy underway, ramping the $USD with gold being crushed. Those two almost always indicate that a major effort to rescue the market is coming."

while that was true last year - especially the overnight ramps - the correlation seems to fail more recently: ramps in the dollar seem to correspond more to falling markets, rather than rising ones. (in fact, big drops in the dollar are coincident with similar rises in the dow.)

in retrospect, those "ramp the dollar" events might have been japanese intervention, with dollars being put to work in u.s. securities.