cat i do not believe that simultaneously buying DLR plus DLR.U while intending to sell both into canadian dollars is efficient. One would end up paying the MERS to the fund manager plus the 4 commissions to the broker.
parties wishing to speculate in CAD/USD outside forex trading might investigate FXC, the rydex canadian currency etf. As you will see, it has LEAPS options going out to january 2014, so one could hedge one's currency bet for the next 21 months, if one wanted.
(aside to argo) we are not really at the bottom of this yet. Why would a person buy DLR.U & wait 5 days, thus incurring MER expense, 2 online commissions plus currency exposure risk for another 5 days.
this is surgery on the instalment plan, without anaesthetic. Looks like butchery to me.
the way i see it, it's far better to pick your day, pick your carrier stock, pick your waterhouse representative (only go with one who knows how to do a gambit) & get the entire job done in one minute.
but be sure to read the above-cited article on Canadian Capitalist blog first. The most important hint in it is this: Do not release your buy order until you have your tdw representative lined up on the phone & ready to send his sell order in the opposite currency.
now that's minimally-invasive microsurgery.