This 'n' that

Because this is a holiday week and Dr. Kris is in a holiday mood (translation: I'm just plain tired!), the remaining blogs will either be mercifully short or non-existent. We both get time off—yay! But just to keep everyone in the loop, here's a couple of quick things I want to pass along.

Currency currents
The currency markets are staging a reversal. The rally in the US dollar could be near its end as the chart of the UUP, the long dollar ETF, looks to be rolling over and is threatening to break through strong support at $26. If it does, you can either short it or buy its short ETF counterpart, the UDN.

Pressure on the dollar is good news for foreign currencies which could be starting a new bull run. All of foreign currency ETFs are up today, some of which are pushing against overhead resistance. The Euro and the British Pound Sterling are the most compelling, chart-wise. The Euro, especially, looks like it's going to break out any minute now. (The FXE is the Euro ETF; the FXB is the Pound Sterling ETF.)

MANDA Watch
Today, Swiss drug giant Roche announced that it will be acquiring Memory Pharmaceuticals (MEMY) in a $50 million cash deal in a move to bulk up its pipeline of schizophrenia and Alzheimer's drugs. This translates into 61 cents per share which is more than triple yesterday's closing price. The stock is currently trading at 57 cents and if I can snag it for a penny or two less, I'll add to the MANDA portfolio.

Dr. Kris on SeekingAlpha
Dr. Kris is now a contributor on SeekingAlpha, a compilation of daily financial blogs that address the markets and investing. It's a great place to get opinions inside and outside of the financial mainstream along with investing tips and trading ideas. A lot of my blog research winds up there which is how I stumbled upon it in the first place. You can leave your comments on any of the articles, but please don't leave me too many as I still haven't had a chance to comment on mine--argh! (Maybe when the turkey is cooking on Thursday...)

Speaking of Thanksgiving, if I don't get a chance to post by then, have an excellent holiday. Don't forget the Alka-Seltzer!