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#2
08-01-2007, 02:26 AM
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Post deleted by Mat Sklansky
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#3
08-01-2007, 05:27 AM
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Re: Suggest a forex pair to put 5k long term
yea i'd think the dollar ain't looking too good long term...but that could be verrrrrrryyyyyy long. way longer than 6mo and longer than you probably conceive so long as the world desires treasuries.
structually though, the dollar is in very bad shape. Barron
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#4
08-01-2007, 11:41 AM
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Re: Suggest a forex pair to put 5k long term
So what is the best way to short the dollar as you guys recommend? I've only ever invested in US stocks/funds. Is there a special type of account you would need to make this sort of transaction (right now I have a Scottrade account)?
If I don't want to go buy Euros and hide them under my mattress, what's the best way to make this transaction? Sorry for the beginner post.
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#5
08-01-2007, 02:00 PM
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Post deleted by Mat Sklansky
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#6
08-01-2007, 02:08 PM
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Re: Suggest a forex pair to put 5k long term
blueman, short dollar weighted index through interactive brokers.
i'm shocked not more people use them. it really is and should be well known as the industry standard for any security. Barron
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#7
08-01-2007, 03:16 PM
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Re: Suggest a forex pair to put 5k long term
Could you list an example of a dollar weighted index? For example: I found XSP which seems to be an ishares S&P fund weighted to the Canadian dollar. I'm assuming then that the standard S&P fund would be weighted to the dollar??
Sorry. Forex trading is totally new to me. Just trying to learn a bit more about this. Interactive Brokers looks like a good service.
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#8
08-02-2007, 10:02 AM
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Re: Suggest a forex pair to put 5k long term
Set your cash on fire or drop it on strippers, you'll have more fun with the same result.
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#9
08-02-2007, 10:38 AM
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Re: Suggest a forex pair to put 5k long term
I'm not sure i agree with "short the dollar, it's in bad shape," for these reasons. First of all, simply by the principle of convergence, I'm not sure we can expect the dollar to continue to tank since it's already at 25 year lows against the Pound/Canadian Dollar. The Fed has said it plans on holding steady with interest rates for the mid-term future. I think the kicker is overseas, where they seem to be lagging on the "popping" of the housing bubble. Real estate prices have not come down as they have here, and thus it hasn't yet weighed on there economies. Once it does, and it will, foreign central banks will have to cut rates to support the economy placing upward pressure on the dollar. Of course, if you're a firm believer in the "continuing global growth story" then shorting the dollar is probably for you. However, if you're in my camp, and is expecting a global pullback, I think holding off on this bet might be a good idea.
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#10
08-02-2007, 10:49 AM
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Re: Suggest a forex pair to put 5k long term
[ QUOTE ]
Could you list an example of a dollar weighted index? For example: I found XSP which seems to be an ishares S&P fund weighted to the Canadian dollar. I'm assuming then that the standard S&P fund would be weighted to the dollar?? Sorry. Forex trading is totally new to me. Just trying to learn a bit more about this. Interactive Brokers looks like a good service. [/ QUOTE ] go to interactive brokers.com and find the trade weighted dollar index. anyways, this is only if you really feel comfortable gambling (and losing) 5k since developed world currencies are a zero (or negative when you include transaction costs & the "cost" of volatility) sum game. i.e. you gain nothing long term and do not get paid to experience that volatility. strippers are likely far more fun as NoD said. Barron
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