With commodities running, it may very well be worth taking a look at a traditional “commodity currency” like the Canadian Dollar, FXC ETF. On the daily chart, you can see how beaten-down the loonie is, perhaps ripe for a snapback rally. I would keep a tight stop not far under $89.
“OT” – @walkslow4 – has been on this idea a bunch on Twitter.
Which stocks are you stalking this morning?
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lol @ short TSLA tweeters
CDN bank latest consensus is we could weaken to about 85 cents but no more. Snap back could occur but probably not much more than 4-5 basis points. As a commodity nation weak CDN always is desired – except for cross border shopping …
nah, it goes lower 🙂 much