The America Trade as Dollar Falls to Low For the Year on Recession Fears
You feeling pretty good about yourself America? Well the stock of our nation -- the dollar—is telling a different story. The currency is retreating on concern that sub-prime blowups will become a full fledged calamity, weakening the economy. And, there are other forces at work --- such as dollar selling by foreign governments—that may continue to weigh on the currency. What’s your stock trade as America's stock falters?
Eric Bolling say the way to play it is to own gold, perhaps buy minters and multi-nationals too.
Dylan asks how investors reconcile a weakening currency against relative economic strength in the U.S.
Jeff Macke says the way to play it is buy foreign currency ETF’s. He likes CurrencyShares Swedish Krona Trust (FXS), CurrrencyShares Australian Dollar (FXA), and CurrencyShares EuroTrust (FXE)
Dylan promises that this information will be on our website… and it is! Then he says, the bottom line is, as the dollar gets weaker you can get long all kinds of exotic currencies that you never could before.
On MAR 16, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC's Fast Money were owned by the Fast Money traders. Bolling Owns (DIS), (ICE), (NMX), Gold, Silver, Soybeans, is Short S&P Futures, is Short Nasdaq Futures, is Short Corn: Strazzini Owns (JRT), (MER)