Stocks got pummeled on Friday due to the GE earnings miss and a lack of buying interest. The G7 meeting on Friday also had investors on the sidelines as the 'expect the unexpected' thinking reigned supreme. More importantly though was that The Masters was taking place and no doubt the big power brokers and fund mgrs were in Augusta being wined and dined by the Wall St crowd (Trevor Immelman won for the record).
The G7 meeting was a bust as they stated they were concerned about the pace of the USD fall, but not about the fall. They were watching mkt developments closely, but no policy initative was announced. Talk about a toothless tiger.
Oil and gold have become the anti $ trade.
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