Trade Ideas : UUP (Long $)

in #money8 years ago

I like the dollar, in the form of UUP calls, for a swing trade soon--perhaps in the next 2-3 days. Sentiment seems to be getting very bearish on the dollar, and I even see talk of "the death of the dollar" again. On top of that, UUP has some good support below, and I don't think round number support at $25 is likely to break any time soon. Also has some gaps that could fill on the hourly chart. I'll add to my position all the way down to S25, and have a plan to stop out if $25 gets taken out to the downside.

I'm seeing $$ bears talking about the dollar's demise, while the dollar should be bottoming out in this intermediate cycle.

I'll probably be buying $25 Sept17 call options within the next few days.