time to load up on some greenbacks. ETF for bullish dollar is UUP. Trading at 52 week low on 3 times normal volume. Oil was a good one day short. Dollar is due for a bounce. ECB and england bank meeting look for a dovish announcement.
Get some job applications filled out first, before you invest in something you do not understand.
Be sure to check out the WSJ article (Doctor the Dollar? Depends How Sick) on page C1 Monday morning:
"The dollar has fallen 9.5% against major currencies since Henry Paulson became Treasury secretary 16 months ago. His response has been to repeat the mantra that a "strong dollar is in our nation's interest."
What would it take to make Mr. Paulson and Federal Reserve Chairman Ben Bernanke, who has seen the dollar fall 11% since he took office in February 2006, respond to the dollar's drop? And what could they do?"
When a currency falls as precipitously as ours has, it is, in no small part, a referendum by foreign governments (and their private investors/traders) on a country and its government. We know that the current administration is not particularly popular overseas. It's no coincidence that since they took office on January 20, 2001, the dollar has fallen ~35%.
LOL get a job....I got two jobs. yeap you continue to read and believe those doom and gloom reports/Ron Paul and continue to lose money. The dollar is still the strongest currency in the world and the death of the dollar like the death of the consumer is all talk. As long as this market buys 70% of the world production dollars are going to be the world currency. As long as China needs to trade with the US they will be buying dollars. As long as the USA pays for the defense of the middle east oil will be bought in dollars.
Will the dollar be as strong as it was? Probably not but you chicken little types have no idea how people/markets really work. Do you really think one day you wake up and the USA is a third world country? We are the only superpower in the world. China's economy is barely above Germany/Califorina's economy. The media mislead people all the time. think about that. China the big bad china's economy is about as large as just one of our 50 states. That's is what you call poverty where I come from. When they get to be even with us then I will worry about the dollar and if their economy gets too big and prices go up. company will just move to Africa or Southeast asia like they moved to China when Mexico wages rose. china's people save they do not spend. For spome reason they don't trust their government or its banks.
The best play for a long dollar is to open a FX account and use the leverage. Most accounts will not let you lose more than you have in the account and you can open one with as little as $300.00. Forex and FCMX seem to be good ones. Or IB brokers? I think is the name. Pure plays are always the best.
I don't mind taking some risk but airlines,,, scary's the stuff out of even me. I just looked at all the before trade mentioned. Since i don"t short i will just stick with ETF with similar ideas. There are almost to many ETF's today. But heard some interesting stuff over the weekend. nearly 54% of the investing public still don't have a clear idea, of what or how they operate. and for the newly created ones there is some way to low volume to get into.
Yeah UUP hasn't moved much. GLD does the same with gold. ETF's are good but they do not track the underlying tick by tick. Here's my trade if you want to play the dollar long (short term)short FXE, FXC or short USO short GLD or short XOM or get a FX account can't beat 24hr/5 day a week trading if your a trading junkie. I wouldn't short the miners due to the BHP bid monday looks like the sector might be in play. Or you can go long the airlines but that is risky.
guess were on the same page. I do have to wonder bout something. UUP goes up/down a nickel /dime a day let's say.
while the QLD goes up/down by .25 to .50 cents let's say.
what's the odds of both UUP and QLD going up in together? As folks start buying more hard assets in the US.
thinking out loud,
Most people don't understand that the dollar is 200% higher than in 1980 compared to a basket of other currencies. therefore the decline of the dollar while troubling is an oppurtunity for others in the world to buy into the best market in the world. It is like any other pullback. If you believe that the story of the world's only superpower is not done then the recent pullback is a great buyinh oppurtuinity. If you believe the doom and gloomers then the recent reversal is a good selling oppurtuinity. I place my faith in the American worker to continue to power the rest of the world into the future.
I started talking to close friends last week, Thur. at the time NO one was even thinking about it. Now it may have got thier attention. As for me i will wait a day or 2 to watch the shake-up or down
Should be a good trade until runup to FED meeting. The FEd has to lower inflation so they can say housing and the economy. Only way to lower the inflation is to lower oil and gold only way to lower oil and gold without lower demand is to boost the dollar. Therefore the dollar is going up until the FEd cuts rates in DEC. At least that's the plan I have been using since last WED after the oil inventory numbers came out and oil failed to rally.