Here's something you haven't heard in quite a while…

The dollar continued to rebound today, hitting a 2 ½-week high against the yen.

I guess there's nowhere for the dollar to go but up, right?

Today's dollar rise is credited to speculation that the Federal Reserve will do as much as it possibly can to do nothing in tomorrow's meeting -- as many analysts want no hints that a rate cut is in the cards for early 2007. In fact, we can expect the Federal Reserve to maintain a very similar script from its last meeting, which should not have too much effect on the major market averages.

This would come as a welcome sign to WS Traders, who are now showing profits in both their Telecom HOLDR (TTH) calls and their iShares Russell 2000 Index (IWM) calls. If we get any upside pop in their position, we'll be right out with “take profit” alerts.

In other news, WOW traders are enjoying today's action in DuPont (DD:NYSE). This morning, the company lifted its 2006 earnings outlook to $3.25 a share from $2.86 a share, which helped the stock gain $0.63 in today's trading action. This up-move pushed our WOW calls 14% higher. Tomorrow, Adam and I will be out with our latest WOW play, so keep an eye out for that.