Interesting,profitable? observation. I'm going to watch that. The $ seems doomed, but I'm not willing to put money on it by shorting directly. Alternatives seem relatively 'safer'. And often better interest.
Agree - I wouldn't directly short the dollar (it may turn out to be a safe haven in case of dramatic world events). EMLC is fine for longer term. I did lighten last week on a UDN divergence, and added it back today. UDN is green (a weaker dollar) and ELD is red (inflation fears? emerging market troubles?). We'll see what happens - but I would expect (hope?) for ELD to turn green on Wednesday. We should also be within a week of going ex-div on the January distribution, so I don't mind being overweight ELD.