This note was originally published on 09/29/10 at 13:27PM EDT.
POSITION: SHORT US DOLLAR (UUP)
No, I’m not telling you to short the US Dollar right here and now. It will finally be immediate term oversold within 50 basis points from today’s price. That said, you should continue to short it with impunity on rallies to lower-highs until America changes its conflicted and compromised monetary policy.
I typically don’t short-and-hold. But in this case I am, at a bare minimum, evolving my investment style. I shorted the US Dollar on June 7th when consensus about “Euro Parity” was running rampant and the US deficit and debt ratios were about to cross the proverbial Rubicon of risk. Risk for anyone with a US Savings account (which yields ZERO percent) or anyone who cares about the US Dollar-adjusted-value of their wealth, that is…
...to read this note in it's entirety, and to receive more real-time research and portfolio positions, please sign-up for a free-trial or subscribe.
"To stand in silence when they should be protesting makes cowards out of men."
- Abraham Lincoln
Keith R. McCullough
Chief Executive Officer