The March Dollar Index is down 22.5 ticks at 77.79 this morning as I write.  The included chart shows that the downside correction of the intermediate uptrend in the dollar continues.  The directional movement indicators are bullish and the ADX line continues to edge higher.  Yesterday, I recommended to try to buy back the short March Dollar index 79.00 call option for 80 ticks.  So far that trade has been unable to get filled but we will continue to work the order GTC.  I also want to leave the protective stop in the same spot as listed below.

 Followers of this letter should be long one March Dollar Index futures contract from 76.585, and be using a protective stop at 77.15 GTC. 

You should also be short one March Dollar Index (79.00 strike) call option from 130 ticks or $1300 gross.

There are 66 days left until the March Dollar index options expire.

David Hall

 The information and opinions contained herein comes from sources believed to be reliable, but are not guaranteed as to accuracy or completeness. The risk of loss in trading futures and/or options can be substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Past performance is not necessarily indicative of future results.

 This newsletter is not intended for dissemination to the public without prior approval from David Hall.