Today in early trade the US dollar is higher yet again, and congratulations to all of you who got in on my call yesterday with regard to ticker UUP (Dollar Bullish ETF)-you are making even more cash today!
Congratulations are also an order for those of you that got in all my calls on QQQ! To say the least you have ripped the face off this trade.
The dollar is higher yet again, and this trend may not be over yet however we need to watch for a reversal.
In my opinion this bounce that we are seeing, and capitalizing on with regard to the dollar, is merely a technically oversold move which will reverse.
When the dollar reverses, and I have a high confidence that it will relatively soon, our next move should be to buy puts against ticker UUP.
With regard to the run higher in the overall stock market, we need to also start looking for reversals and opportunities to go short.
If you have a copy of my Rip System you can easily spot these reversals. Click HERE: http://www.lulu.com/shop/gregory-mannarino/the-rip-the-markets-face-off-system-for-technical-trading/ebook/product-23285099.html
I promise to keep all of my lions, tigers, and bears on top of this!
Happy trading! Be sure to watch my latest MarketReport video on my website. Click HERE: https://www.traderschoice.net/
