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Macke on the Markets

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Earlier in the week Jeff Macke told you his three favorite ways to trade this market. If you missed it here’s your second chance.

“I l like Wal-Mart, the dollar and the fetal position,” said the Lone Wolf on Tuesday’s Fast Money.

Macke has been bullish of the dollar for quite some time. “I stand behind cash,” he says. “Not only do I have a pro American children’s stance but I think the French are more screwed up than we are!”

In other words, Macke feels that although things aren’t great domestically, they’re worse elsewhere and that gives the dollar strength.

Macke’s been trading it with the PowerShares DB US Dollar Index Bullish . “If you’re not already long I would wait for the UUP to break above $25 before getting long,” he counsels.

And his thesis stands whether the bailout passes or not. “I don’t think anything I’ve heard out of DC has given me cause for confidence. They don’t understand the problem. They’re going to chuck money at it and they’re going to pork that sucker up.”

Now you know.

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Trader disclosure: On Oct.2, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (UUP), (MSFT), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (MER), (MS); Seygem Asset Management Owns (FXI); Pete Najarian Owns (AAPL) And (AAPL) Puts; Pete Najarian Owns (GS) Call Spread; Pete Najarian Owns (MS) And (MS) Put Spread; Pete Najarian Owns (NCC) Call Spread; Pete Najarian Owns (RF) And Is Short (RF) Calls; Pete Najarian Owns (SPLS) Put Spread; Pete Najarian Owns (WB) Call Spread; Pete Najarian Owns (XLF) Call Spread; Finerman's Firm Owns (MSFT), (PM)

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