Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways To Play: The Greenback Blues

By

Strengthen your portfolio in good times and bad.

PrintPRINT

Is the Dollar Done?

The dollar is overvalued and commodities are headed higher. So says renowned investor Jim Rogers. In a television interview with Bloomberg, he predicted the currency will rally into 2009, but will plunge shortly thereafter as policy makers seek to weaken it.

Eventually, he believes, the greenback will lose its status as the world's reserve currency. Rogers is putting his money in commodities and the Japanese. Why? Because "fundamentals have not been impaired and, in fact, are improved."

For more, check out Gold to Break Upside, Dollar to Break Down by Professor Lance Lewis.

From the Bull Pen: Bulls looking for a commodities play can consider Petrohawk Energy (HK). The stock's showing signs of a turnaround - and recapturing its 50 DMA would be another positive note. Sell stops can be set 2 points from entry.

From the Bear Cave: We've talked about the Bearish Dollar Fund (UDN). But dollar bears can also consider the Yen ETF (FXY). One might be able to catch the stock on a pullback toward $100.


Quick Check Around the World

Asian trading closed with the Hang Seng 3.38%, Nikkei 5.22%, Sensex -2.33%, Taiwan 2.55% and Shanghai -0.44%.

Glancing towards Europe, we see the CAC 0.18%, DAX -0.44%, FTSE 0.20%

As of 8:20 a.m. EST, S&P futures are trading +4 to 852, and Nasdaq futures are +2 to 1151.

A Look At Commodities

Crude oil is trading -2.90 to 51.64. Gold is -9.4 to 810.10. Silver is -0.900 to 10.255 and copper is +9.500 to 166.60.

The dollar index is +0.292 to 86.368.


On the Radar

Economics

08:30 GDP QoQ
08:30 Personal Consumption
08:30 GDP Price Index
08:30 Core PCE QoQ
09:00 S&P/Case Shiller Home Price Index
09:00 S&P/Case Shiller Home US HPI
09:00 S&P/Case Shiller Home US HPI YoY
09:00 S&P/CS Composite 20 YoY
10:00 Consumer Confidence
10:00 Richmond Fed Manufacturing Index
10:00 House Price Index MoM
10:00 House Price Purchase Index QoQ

Click here for the full trading radar.

Good luck today!

Actionable ideas, instant analysis. Real-time from bell to bell.
Minyanville's Buzz & Banter - 14 day FREE trial

No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE