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Closing Position In Eaton Vance Tax Managed Buy Write Opportunity Fund

|Includes:ETV, PowerShares DB USD Bull ETF (UUP)

Stocks had their first weekly decline since April 19. The 1% decline was due largely to Bernanke's hinting at the eventual end of QE. Japanese stocks fell off a 7% cliff. Morgan Stanley's Chief US Economist Vincent Reinhart states that the slowing of bond purchases could start in September. This would kick into gear the strengthening of the dollar as the government slows its weakening of it. Dollar strengthening against the major currencies would boost the share price of Powershares DB US Dollar ETF (NYSEARCA:UUP).

We are going to sell Eaton Vance Tax Managed Buy Write Opportunity Fund (NYSE: ETV). We made 38% from 11/11/11 compared to 27% for the market.

Disclosure: I am long UUP.

Stocks: UUP, ETV