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U.S. Dollar Bulls Re-Emerge As We Kick Off 2017

Analyst Paul Weisbruch of Street One Financial brings us his daily fund flows update, which today points out some sizable inflows into both large cap and small cap equities, as well as some bullish options activity related to the U.S. Dollar.

SPY, IWM Back In Vogue

SPX 2249 has been holding in early trading as we kick off calendar year 2017 this morning, and we saw some late year creation flows in SPY (over $2.8 billion in) late last week. Additionally, Small-Caps via IWM (Russell 2000) also has pulled in about $2.8 billion in the same time frame.

This action in IWM reverses a previous trend we saw back in December, where big money was moving out of small caps and back into large caps. Now both classes of equities are seeing equal investor interest in terms of money flows.

IWM currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 29 ETFs in the Small Cap Blend ETFs category.

U.S. Dollar Bulls Re-Emerge

In options activity, we saw sizable activity in U.S. Dollar tracking UUP (PowerShares USD Bullish) involving the February 27 calls (over 94,000 contracts traded). UUP is presently trading around $26.79 per share, so these calls are somewhat out-of-the-money, but they still have more than a month until options expiration.

We note that this trade has been directionally correct, at least in the very short-term here, as UUP is up more than 1.25% today after a dip to end last week in the U.S. Dollar. UUP has seen small outflows in the trailing one month period (-$20 million out).

UUP currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 25 ETFs in the Currency ETFs category.

Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch
paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.

Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.

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