Does the downtrend continue, or do we see a break?
I can see a temporary break of the downtrend to the upside depending on how the market reacts and follows thru to the ECB tomorrow. Otherwise, the trend remains down.
I'm sure Frixx is doing his homework right now and tweaking his systems for it.
http://www.dailyfx.com/story/trading...909057357.html
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
Maybe Frixx can shed some light here.
When do we look to short FXE (EURO)? Is this breakout for real?
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
I've been waiting for a dollar rally for at least a month now, but those dollar bull ETF's and Currency ETF's aren't worth the taxes or risk/reward IMO. If I were to buy the UUP today, I'd have to do it with leverage to make it worth my effort and with only 15-20% max upside that I see.
Hey anyone else see that volume spike this week in UUP?
Jim Rogers is sounding like it may be time for him to dabble into those US Dollar bull funds or the March'10 DXY.
http://moneynews.newsmax.com/streett...28/278477.html“The dollar is overdue for a rally. Everybody in the world is pessimistic on it, including me,” Rogers told Bloomberg.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
Last edited by alevin; 11-19-2009 at 02:56 PM. Reason: typo
Haven't been allowed to discuss My moves, but $ staying weak.
I did not go long on the Yen at 100, I fell asleep at the keyboard...yeah...thats the way it happened ~ Frixxxx, as another DEMO account got destroyed in 32.7 seconds
One thing I don't like about UUP is the risk/reward. UUP could go up 7-10% if a short squeeze were to hit, and I figure that to be a max. That would also mean having to use leverage to make the trade worth it. Who besides the insiders and brokers really know the ins and outs of some of these nutty ETF's?
For example, I've been hammered in UNG and had I known this contango thing would have made such a difference, I wouldn't have bothered with it.
Anyways, I posted in the tax thread you started regarding currency ETF's. No LT Cap gains and ST gains get hit pretty hard.
If anything, I'd invest in these kind of funds only in a Roth IRA. Hope this helps.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog