Everyone is bearish the dollar due to its recent pullback. But according to my models, a pullback is all it was …
And now, the dollar is lining up for at least a major one-month rally. You can see it right here on the AI model:
This makes for an ideal short-term ETF trade. My recommendation:
Buy shares in UUP, PowerShares DB US Dollar Index Bullish Fund. Details in a moment.
First, as I pen this issue (4:32 am EST), gold is down roughly $4.00, silver about $0.11. Not much, and it’s early in the day, but both metals continue to trade “heavy.” Needless to say, I am watching them like a hawk.
As I mentioned in yesterday’s webinar, crude oil is swinging nicely. I want to wait the weekend here, but look for a short-term crude oil trade early next week.
Now, to purchase the ETF, UUP …
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For ALL Members Using 3% of your trading funds allocated to this service, purchase shares in PowerShares DB US Dollar Index Bullish Fund, symbol UUP, at the market. Place a good-till-cancelled protective sell stop at $23.95, for now. |
I will tighten that stop up as the trade progresses. Hold all positions and related stops and stay tuned.
Lastly, you should have been stopped out of ProShares UltraShort FTSE Europe ETF (EPV) yesterday when it hit my recommended stop. Stand aside for now.
Best wishes,
Larry
