Opinions
Hap (Robert) Sneddon FCSI
Invesco DB US Dollar Index Bullish Fund
UUP-N
PAST TOP PICK
Jan 24, 2013
$21.830
Stock price when the opinion was issued
E.T.F.'s
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COMMENT
These are currencies measured against the US$. US$ has been the worst of all the major currencies. There is a retracement possibility to $23.50, which he thinks is somewhat likely. There has been some basing followed by a nice rally then more basing. He could see it going to $24 before settling down.
E.T.F.'s
COMMENT
An ETF that would benefit from a drop in the US$? Would you buy a Call on it, and how far out would you go? This is one you could buy a Put Option on. He thinks the US$ is going to be stronger, so not a bet that he would make, but if he were doing that he would go out 6 months. Currency is a tough game to play.
E.T.F.'s
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(Top Pick Jan 19/12, Down 1.93%) Still believes it is a long term thing. We know currency wars are going on. He is going to own this or something similar again.