Hi Toof, Re: Selling into Strength in Currencies..............
Yes, I've sold twice so far this year in UUP. It had been a very long time since the last Sale. I did accumulate about 12% more shares sometime in the last year or so, so it was nice to replenish the cash this year. So far I've sold 15% of the holding's shares.
I was mistaken, my last buy of UUP was in March of 2011! My how time flies!
The Buy was at $21.69. The recent sales were at $24.55 (10% of shares) and $26.25 (5% of remaining shares). I use very narrow Lichello trade bands for currency ETF shares. There is no cash ceiling on my selling of these, either.
Currencies have proved to be much harder to AIM than history would have suggested. Everything seemed to change after 2008. The other frustrating part is that these currency ETFs used to pay reasonable dividends before 2008, but that has not been the case since. FXA, the Aussie Dollar ETF still pays over 2.5% but it's the only one. It's also quite out of favor right now.
I last sold FXA shares at $106.82 in April of 2011 when Gold was still a hot commodity. The most recent buy was at $76.33. That's about 30% off that last sell price. The deep discount in share price is part of why the yield is half decent. The deep discount is there because of the drop in gold, oil and other basic materials that Australia exports.
While "Amplitude" has been good, "Frequency" has been lacking in these ETFs. The purpose of the portfolio is mainly as an alternative cash hoard to US based money market funds.
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