Close on the heels of the announcement of the first $700 billion bailout package, Congress is ready to usher in the New Year with another stimulus package that will probably be somewhere in the $1 trillion range.

It's true. The Treasury Department is rapidly running out of cash earmarked to invest in problem banks. Nearly one-third of the $700 billion (roughly $215 billion) that Congress approved has already been spent on just 67 banks, a small fraction of the 1,800-plus financial firms seeking government assistance.

Because the global credit markets are still trying to stabilize, the dollar has rallied strongly in the face of headlines that forecast the 24/7 schedule the Bureau of Engraving and Printing is going to be keeping for 2009 as it produces some $2 trillion of fresh cash to fund the bailout that is about to get ever-wider if the automakers are included.

Once confidence is restored in the bond markets and spreads on corporate bonds and mortgages begin to narrow, the dollar will sell down and other foreign currencies will rally. That said, I believe the time for shorting the dollar is now -- greenback is starting to waffle after a powerful five-month rally that started back in June.

I just have to believe that the dollar is going to rollover hard when the final number comes in revealing how many trillions of new dollars are going to have to be printed to throw at the credit crisis. This might be one of the really great set up trades for 2009. I kid you not!

Trading Strategy:  Buy the PowerShares DB U.S. Dollar Bearish Fund (UDN) or if you’re feeling real adventurous, buy the UDN March 25 Calls (UDNCE) at market.