In Red-Hot Commodity ETFs, I recommended subscribers bag remaining gains on iShares Silver Trust (SLV: 16.65 -0.43 -2.52%) and iShares Dow Jones U.S. Oil & Gas Exploration Index (IEO: 53.85 -0.81 -1.48%). They’d already been stopped out with gains on the second half of their PowerShares DB Gold Double Long ETN (DGP: 26.79 -1.028 -3.70%). Why am I recommending subs exit so many positions? Here’s an updated chart of the U.S. dollar index that I sent subscribers …
Meanwhile, Red-Hot Global Small-Caps subscribers should have hit the second profit target on the iShares MSCI Australia Index Fund (EWA: 23.75 -0.23 -0.96%). Good thing they booked another round of gains, because the EWA fell apart today.
My outlook is that we could see the U.S. dollar index rally into early October or mid-October. The real test will be if it can close above its 20-day moving average; if so, that will indicate a change in the short-term trend. We’re already getting indicators like a higher low in momentum.
How high will the dollar rally? What should you buy, if anything? My premium service subscribers should stay tuned.
Related Posts
- Wednesday Charts: Is This Dollar Rally for Real? (08/26/09)
- This Commodity Rally Is Bigger Than Gold (10/12/09)
- Chart of Crude Oil — Bullish! (10/14/09)
- Monday Is Chart Day — Oil, Gasoline, Silver… (04/20/08)
- Chart of Gold and Oil (10/05/09)
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