Quick Post Before Closed Markets

Futures are due to close at 9:15am ET because of Hurricane Sandy, but based on what I've seen thus far, 1396.56 looks like the next target on the S&P.

I see no irrational moves in any markets. The one thing that may be pressuring the markets is the US dollar -- it looks poised to break out.

Recall the Sunday just before Black Monday, Treasury Secretary James Baker made comments that the US was "prepared to let the dollar slide." This comment was widely credited with being the match that lit the bomb that exploded the markets.

Funny how we've come full circle, that anytime the dollar rallies, the markets fall apart. It's not funny. It's how unhealthy the markets have become.

Nor is this storm funny. It brings back bad memories of my slick waterfront apartment getting flooded in Connecticut during the Perfect Storm in 1991.  That same apartment will probably be completely submerged this time. I was one of the lucky ones then, but I've never lived too close to the water ever since.

I simply pray this storm turn out to be a dud.