3/10/2015
By Charles Payne, CEO & Principal Analyst

Today’s Session

European Central Bank (ECB) quantitative easing has begun, sending the Euro to a 12 year low versus the US dollar. That coupled with some angst about Greece and comments from Cleveland Fed President Loretta Mester on the economy’s strength have put a fair amount of pressure on the market. Her comments that the economy will hit 2.0% inflation puts a rate hike back into play for the first half of the year. 

This means continued selling pressure that’s typical of the months ahead of a rate hike. This is where investors are tested. The great long term gains rarely happen in a straight line, and while we all wish we had the winning horse, you can’t rip up your ticket after a stumble. 

Right now, the cash position on the Portfolio Approach is 15%, if you’re not there, check in with you rep.  

US Dollar v Euro

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Charles Payne
Wall Street Strategies

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