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Patrick Young
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Patrick Young is an independent investor. He previously worked in Upstream R&D for ExxonMobil. He has a M.S. in Geology focused on igneous petrology and geochemistry, and is currently working towards a Ph.D. in the same at Yale University. He has wide interests in technology, particularly energy... More
My blog:
The Rock Doctor
  • Why buy dollars? 0 comments
    Jul 5, 2011 2:42 PM | about stocks: UUP, SPY

    This market looks like it is still being watched very closely by traders for intraday support to the rally. There is still a battle going on between the bears - who are VERY pessismistic still - and the bulls, who are looking for higher support levels. The bears are bullish about the dollar. They are buying dollars by selling equities, but why do we want to own dollars. How has the value of the dollar been supported by any real action this year? The Fed remains easy, and the rest of the world is ahead of the game tightening monetary policy, so I don't see any non-speculative way to make money holding dollars in the next year.

    Stocks: UUP, SPY
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