What I sold last year: I sold EMC at $19.25 for a 18% long term gain – still holding significant number of shares. Sold too soon. I sold all my SLV at 27.65, 43% short term gain, but did I sell too soon? Very scary at these levels. Looking for a major pullback before considering … [Read more…]
Things change quickly. Time to book my UUP gains. Sell all UUP.
I think the euro is up for a correction and countries like Greece are not helping the euro at all. If the US raises interest rates, this could be the end of the gold rally and the beginning of the rise of the USD.
Is this another arguement to be long UUP? The futures contract is designed to replicate the performance of being long the US Dollar against the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
I think there is an inverse relationship with Gold and the USD. So far I have not pulled the trigger. We could see another bump in Gold prices and another hit to the USD.
With the Euro trading at around $1.50, an all time high, today the EUR/USD ended with gains but still remains inside a range. The Euro failed to break above 1.5000 one more time. Greenback lost Tuesday’s gains but I am considering a trade for dollar valuation and current dollar/euro trends. How low can it go?