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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Wednesday, February 18, 2015

Short the Dollar – Sell the UUP

Traders with long bets on the PowerShares DB US Dollar Bullish (NYSE: UUP) have enjoyed a great run this year. However, I believe longs should now close the trade and consider shorting the security, as I have, or take a long interest in the security’s inverse pairing, the PowerShares DB US Dollar Bearish (NYSE: UDN). The dollar index was giving way again in overnight trading after dropping in Thursday’s trade. It’s a move I’ve been waiting on for a short while now. My reasoning has been that the Greece euro-zone concern has been overblown, and that as that became apparent to the market, the euro would recover some ground against the dollar. Peace in Ukraine, however fragile, is just a bonus I had not planned on but supports the play. Go short UUP here; I have done so using March at-the-money and June out-of-the money puts. See our report on short the dollar here.

DISCLOSURE: Kaminis is short the UUP ETF. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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