U.S. Dollar Is Best Horse in Glue Factory: Grossman

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Dec. 26 (Bloomberg) -- Jeffrey Grossman, President of BRG Brokerage, puts futures in focus with an outlook for oil and why the U.S. dollar is still the best currency in "On The Markets." He speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)

It is a bit of a heads catcher.

The crude oil is very overpriced.

They are drifting higher.

It may have to reach $100 to satisfy everyone's desires.

The truth is that the products have been amazingly struggling.

They are bolstering the markets.

They're keeping crude oil higher than it should be.

Will you buy the dips?

You can buy crude oil at 95.5. you may not even get there.

Probably $96.25. again, it is a market -- i do not know where the rally could take you.

I am not surprised if it does touch $100. i do not know how much more can give you without real help.

Products are going much higher.

One thing that could skew natural gas trading is if we get more severe weather.

There are power outages in many arts new england.

How do you protect yourself?

You can buy futures and upside.

We are very seasonal as far as the heating oil.

It is northeast.

Natural gas is the midwest.

If the weather comes in, there will be a move up there.

There is no way around their.

The fact that there is a perception that there is more need and there will be a drawdown of some inventories.

That is just what we need to keep the flow of oil looking like it should the.

You also trade currency.

What do you think will happen with the dollar heading into the end of the year?

I think that the dollar can go a little bit higher.

We will see a few more handles to the upside.

I am not overly bearish on the dollar.

You had a funny expression.

He said it was the best horse in the glue factory.

We always say that, compared to the other currencies, even at its weakest, it is the best course at the glue factory.

That says it all.

The currency may be weak, but it is better than the others.

We're looking at the fact that the dow jones is up 25%. the s&p 500 is up 28%. you said earlier that you cannot understand why the market keeps going up, no matter what news is.

At what point will you short the benchmark index?

Very close.

Every day, i walk in and see the s&p 500 and think i should selloff today.

It may give here and there, but it keeps coming back.

Those are tough markets.

You would be much better off looking for a place to sell if the market would spike up.

That has not been the case.

It is going higher.

Tough market to be sure.

We will leave it there.

We are on the market again in 30 minutes.

? live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanie ruhle.

Mess up.

Brown let them down.

Seasons greetings.

Electronic cards are booming.

We will meet a ceo with her stance on a paperless future.

Which is studios are making a push for oscar action.

Welcome to "market makers." i am scarlet fu.

I am alix steel.

Stephanie and erik are off today, no doubt eating the christmas food.

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