Marketgrind Financial Blog

The Fast Money boys all like the USD for the last half of this year and so far that seems to be working out well.  If you’re not already in I don’t think it’s too late.  The dollar was beaten to death and has a long way to go during recovery.  Wait for a pullback to enter and set your stop just below the big gap up in early August.  So far the stock has been acting very well after the big move up.  What we want to see here is a tight consolidation or a low volume pullback after the huge volume spike on the gap up.  The big volume means there’s a lot of money going into this trade so if it starts to fall apart it will do so very quickly.  Protect yourself with a stop.

Tags: Fast Money, US Dollar, USD, UUP

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This entry was posted on Wednesday, August 27th, 2008 at 9:49 pm and is filed under Fast Money Review. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.