Times are tough. But they are not so bad that we should abandon the quest for profits, says Louis Basenese. Buying US Treasury bonds with zero yields is idiotic. Louis gives six alternative investment options with big profit potential.

Euro hits 6-wk high at $1.3158 , dollar index falls… ECB’s Stark comments cool rate cut expectations… SNB cuts rates by 50 bps, as expected… U.S. auto deal makes progress, rocky road seen in Senate

There is always a bull market going on somewhere, says Frank Hemsley. As currency values are all relative to each other, a slump in one always means another is soaring. Frank says the unwinding of the carry trade means the Japanese yen is soaring against weaker currencies like the British pound. As long as stocks remain in a bear market, Frank says the yen will rise and sterling will fall.

John Crooks says the US dollar is one of the few bullish currencies for 2009. Investors can profit by going long on dollar ETFs, or shorting other currency ETFs. But to make really huge returns, John recommends using options and investing in the exotic currency markets.

China is not immune to this global recession, says John Crooks. And as the ‘world’s manufacturing plant’ stumbles, it will take down many others with it. Emerging economies that relied on China buying raw materials will be hit hardest. And any developed nation with exposure to these markets will be dragged down too.

In forex trading, there has to be a winner for every loser. John Crooks says the US dollar is set to be “king of the hill” in 2009. He says forex traders don’t care about the damage being done to the US economy. The greenback has become a “safe haven” for investors rushing into cash. And that trend isn’t about to change anytime soon.

2009 could the first global recession since the 1930s, according to a UN report. But John Crooks says forex traders can use the economic slump to make big profits. He picks four currencies that will be “on the chopping block” for 2009.

There’s always a profit story hiding somewhere in forex trading, says Chuck Butler. The “stealth-like” Swiss franc is in line to profit from this market crisis. The economy still has solid fundamentals. And when the credit squeeze eases, Chuck says the franc will make some big strides.

Surprising news out of Argentina today: Ternium (NYSE:TX), a steel maker with operations in Argentina and Mexico, reported a 15% rise in net income (year on year).

But here’s the thing. That 15% rise is overshadowed by the fact that its net income of $247 million is only half that from the previous quarter. The main reason for this drop? Lower net foreign exchange results.

Since July, the US dollar has converted into one of the world’s strongest currencies. Eric Roseman says the greenback could continue to rally if stock markets decline again. But this upswing should not be confused with fundamental strength in the US economy. The buck has been a “liquidity haven” as credit dries up, but the government’s spending blitz will eventually take its toll on this fiat currency.