Did Tracy Morgan's Homophobic Rant Kill the Dow?

Does homophobic “comedian” Tracy Morgan have the ability to move markets? Maybe.

The allegedly funny Morgan went on a homophobic rant last Friday, telling gays and lesbians that they need to quit complaining about bullying and then jokingly threatened to kill his son if he came home and said he was gay.

Since the rant, the only thing Morgan has killed has been his career. His boss on ‘30 Rock' is Tina Fey, who happens to be a tremendous supporter of LGBT rights. She has not yet issued a statement on whether Morgan will be a former employee of the show.

Interestingly enough, since Morgan's rant, the Dow has steadily dropped. The ETF tracking the Dow (NYSE: SPY) is down three points. Oil has been all over the place, and is finally down again today. In fact, the only thing that seems to be up is the dollar, including the bullish dollar index (NYSE: UUP).

Action Items

Bullish: Traders who believe that Tracy Morgan is an uneducated douche who hates gay people might want to consider the following trades:

• The PowerShares DB USD Index Bullish (NYSE: UUP) is a good place for people to invest not only in America, but in the American currency. The future is with tolerant, respectful people, and if that future includes America, perhaps the greenback is where you want your money.
• Ford (NYSE: F) is the ultimate American play, isn't it? They make vehicles that America builds around. Support America? Buy American.

Bearish: Traders who believe that Tracy Morgan is a super talented genius who isn't afraid to be a flaming bag of turds may consider taking positions in the following:

• EUR/USD will give you a chance to vote against America and tolerance by supporting another currency. Although homophobes might be disappointed to find out that Europe is even more pro-equality than America is.
• Target (NYSE: TGT) might be another place for you to turn homophobia into profits. In 2010, Target donated $150,000 to anti-gay political causes, a move that earned the company endless derision (and a boycott from yours truly).

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