I am not good at keeping journals. Basically I have ADD when it comes to keeping anything orderly(thank goodness for electronic docs). But I do enjoy posting on ET, whether it be the occasional major market call http://elitetrader.com/vb/showthread.php?s=&threadid=108764&highlight=dow+theory or clowning around. So since I spend so much time here I am going to try and keep this journal. So in honor of my most favorite long term position I christen this thread. "I love the greenback". ------------------------------------------- Have been out of individual equities since Oct 19. I was playing short term consolidation breakouts in 2007 with good luck. Until the fall came around. Then things got strange. The market stayed the same, yet it was different. 9 out of my last 10 breakouts failed. At that point I pulled back and went to cash. Sitting back with nothing to do I pulled out the weekly charts **blew off the dust** and took notice of the DX index. In the past when I wanted to trade the DX it was via the DX on the nybot. But I came to discover the UUP etf. Leverage does not bother me but if I can trade in cash I always take the choice. So On November 19th I made my first purchase in the UUP..and made three subsequent so far bringing me to an avg price of 23.41. The management fee is ok and it pays a dividend. More importantly it allows me participate in any upside or downside the DX presents. I have stated several places in ET in the last 6 months that I beleive the DX sell off has been overdone. Yet I treaded lightly. However something happened last week that gave me much more confidence in the USD bottom. During the fed meeting they said they were going to keep on the same path they were running. i.e few more rate cuts. Yet on that day the DX and UUP were slightly up..this was the sign I have been waiting for! More "bad news" for the greenback yet it shrugged it off... Today more buying comes in as the EU states they will lower rates. DX/UUP+1% or so on that Long term unbroken trend.....everybody hates it...extreme sentiment...nobody left to get short...and the instrument shrugs off bad news...I love it. My gut says back to par in 18-24 months..thats about a .235cent move..or 30%. I will track my pos with the DX index..but trade via the UUP Or I could be completely wrong and get carried out! Either way I will have fun. Going forward I will keep all my ET posts here. I have the brains and the looks...lets make lots of greenbacks.