Barchart Stock Chart of the Day – March 3, 2009
Tuesday, March 03, 2009
by Barchart Analyst of Barchart.com
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Barchart Stock Chart of the Day – March 3, 2009 Safe Haven. That’s what we’re all looking for at the current time. Surprisingly, that traditional storehouse of value, gold, hasn’t performed well in the last few weeks. And going off-shore to other global equity markets hasn’t worked either. So what HAS worked during this financial meltdown as a safe haven? The dollar. While the rest of the markets seem to crash and burn, the dollar performs well. And looking at Barchart’s Overall 52 Week Highs we spotted our Chart of the Day, the UltraShort Yen ProShares (YCS). YCS is an ETF (Exchange Traded Fund). As an Ultra Short the ETF rises by twice the decline of the Yen / Dollar rate. In other words, as the Yen falls against the dollar, YCS rises at twice the rate. 
Barchart Opinions for YCS are:
There are no opinions for YCS since it just began trading on November 25, 2008
Sector Performance: YCS does not yet belong in any sectors.
How we spotted this chart: We noticed YCS while viewing Barchart’s Overall 52 Week Highs page. We displayed the full list and then scanned the list, looking for safe haven investments during this period of market decline.
Recent Developments:
ProShares UltraShort Yen (YCS) seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the U.S. Dollar price of the Yen.
Recent articles from this author
- Interview with a Successful Currency Trader - Friday, January 01, 2010
- Barchart Chart of the Day - September 16, 2009 - Wednesday, September 16, 2009
- Barchart Stock Market Wrap – March 13, 2009 - Friday, March 13, 2009
- Barchart Stock Chart of the Day – March 13, 2009 - Friday, March 13, 2009
- Barchart Stock Market Wrap – March 12, 2009 - Thursday, March 12, 2009
About the author
The Barchart Analyst has over 35-years experience in the futures and stock markets, and is a former member of the Chicago Board of Trade. He has participated in an advisory role for many large corporations and has spent 19 years developing and back testing sophisticated trading systems for top Wall Street brokers and commodity trading firms. The Barchart Analyst uses many of Barchart.com's free tools, such as Signals, Top Stocks by Sector, and Opinions, to scour the market for stocks on the verge of a major move. His commentary alerts readers to major market trends and provides promising trading ideas. Comments may be forwarded to The Barchart Analyst via editor@insidefutures.com. With a heritage dating back to 1934, Barchart.com, Inc. has substantial experience in meeting the informational needs of the financial industry. A full-service provider of futures and equities financial market data from all major exchanges, Barchart also provides comprehensive historical market data and research, custom web content, complex real-time charting applications, an extensive array of market tools and analytics, retail, and educational products.
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