Spikes in UUP

T

TraderSU

Lately I see lots of spikes/jumps in UUP, some during market hour and others during extended hour.

Can some guru please help me understand this ETF? It looks very crappy right now.

And so far this is the only instrument that I found at IB for tracking dollar.

Thanks,
 
TraderSU, I am no guru, however, what I see is smart money coming into the dollar. UPP hit a low on 10/21/09 and the next five days saw a big increase in volume that pushed the price higher. On 11/5/09, volume went ballistic to over 13 Million shares traded. This pushed the price above its 55 Exponential Moving Average. Since, it has fallen back to a fraction below the 10/21/09 low. The price has rebounded today well off its bottom. It will be a good clue to the future direction of the dollar to see where it closes today.

The price action may look crappy right now, however, I believe money is changing hands at a frantic pace right now. The dollar may not be bottoming right now, but I am willing to bet it is not far off.
 
How about doing a search on UUP and see what you find, might help you a little to understand why this particular ETF is acting the way it is.

Really, UUP the only instrument IB has to track the USD? How about DX, the dollar index?
 
Quote from Mvic:

Really, UUP the only instrument IB has to track the USD? How about DX, the dollar index?
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DX/USD goes blank on my TWS. Not included in the standard data subscription package :-(
 
Quote from TraderSU:

Lately I see lots of spikes/jumps in UUP, some during market hour and others during extended hour.

Can some guru please help me understand this ETF? It looks very crappy right now.

And so far this is the only instrument that I found at IB for tracking dollar.

Thanks,
More...



No guru but a prolific moneyloser. :)

I don't trust this ETF but the volume is fabulous, since June rising on rallies, doropping on declines and since mid-Sept exploding.

Another +ve is the clean trendline, the breakout above and yesterday the retest - successful or not? we'll know soon.

One -ve is that its retraced more than 78.6% whereas DX is sitting smack at this level today.

goodluck


 
I don't understand how UUP and the dollar index correlate. The interesting thing to me is that UUP made a much higher relative move than the dollar index today. Also, the high in the index was 11/3 and the high in UUP was 11/5. What gives?

Quote from TraderSU:

What data subscription do I need for it? I scanned the list but don't see any NYBOT.
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From IBs home page, go to Fees-Market Data-North America-InterContinental Exchange and New York Board of Trade

It is $1 per month for non-professionals

Or you can check free at

http://futures.tradingcharts.com/intraday/US/C9
 
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