In the coming weeks, bloggingstocks.com will review those stocks most likely to benefit under each scenario: a weak dollar or a strong dollar.

Commodities expert Jim Rogers is on-record with where he thinks the U.S. dollar is headed in 2008: down. That, in and of itself, is not news.

"It doesn't take a genius to figure out that it's a currency that's going to be going down for some time to come," Rogers said in an interview with the Financial Times. Rogers added that in his interpretation the U.S. Federal Reserve's and the U.S. Treasury's willingness to print money and drive down the greenback is clear.

Among other consequences of the dollar's continued fall, Roger sees higher commodity prices, a rise in U.S. inflation, and a rise in China's currency, the yuan (if the Chinese government lets it rise more). Rogers, chairman of Beeland Interests Inc., said he is also shorting shares of Citigroup (NYSE: C). [Citigroup's shares closed down $1.92 to $35.81Monday after the company said it will have to write-off $8 billion-$11 billion to account for the reduced value of subprime mortgage-related securities.]

All of which begs a good question by the investor / reader: How did the U.S. dollar drop so much in value?

MOST NOTEWORTHY: The Wet Seal (WTSLA), Brocade Communications Systems(BRCD), IAC/InteractiveCorp (IACI), CME Group (CME) and Rogers Communications (RCI) were today's noteworthy initiations:

• Merriman believes the turnaround at Arden B is well underway and both it and the Wet Seal chains have tremendous opportunities for long-term growth, initiating The Wet Seal (NASDAQ: WTSLA) with a Buy rating.

• Pacific Growth is positive on Brocade's (NASDAQ: BRCD) diversification into new products and services, starting shares with a Buy rating.

• Banc of America initiated shares of InterActiveCorp (NASDAQ: IACI) with a Neutral rating.

• William Blair believes the newly-formed CME Group (NYSE: CME) has an even more dominant competitive position within the growing futures exchange industry, reinstating shares with an Outperform rating.

• JP Morgan said Canada is an attractive wireless market and that Rogers Communications (NYSE: RCI) is well positioned, starting shares with an Overweight rating...

OTHER INITIATIONS:

• Deutsche Bank initiated Waters Corp (NYSE: WAT) with a Hold rating.

• Goldman started Infinera Corp (NASDAQ: INFN) with an Equal Weight.

• Kaufman reinstated Savvis (NASDAQ: SVVS) with a Hold.

• Pacific Growth initiated Network Appliance (NASDAQ: NTAP) with a Buy.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

Well, it's not like I can get an Apple, Inc.'s (NASDAQ: AAPL) iPhone today, but say I was an American (or living in the U.S.) and say I wanted to buy an iPhone. Okay, so say all that were true, and I bought the iPhone and brought it home and ... and ... and I decided to return it. Why? Dunno, maybe cause I just couldn't get used to that really amazing touch-screen. Okay, maybe because it drove me nuts that there was no voice recognition. So I could just return it, right? Wrong!

According to TUAW, I'd have only 14 days to return my coveted iPhone and at the original point of purchase no less. I would have to return it unopened and shrink wrapped or else I'd "be charged a 10% open box restocking fee." Canceling the agreement will cost me as well, especially if I was slow and did it after three days.

Basically, TUAW calculated the rough costs of returning the phone and it ain't cheap: $50.00 for trying it out, returning and canceling the service within three days, or $86.00 within 14 days. I already mentioned before I was upset with some of iTunes policies, now this makes me a little uneasy as well.

Well, I'm not going to get an iPhone today, nor tomorrow and probably not even when it is finally released in Canada (September?) as my plan is with Bell (NYSE: BCE), not Rogers Communications, Inc. (NYSE: RCI). Even if I could get it today, you'd probably not see me standing in line for it (yes, yes, it's the bitterness talking...) However, TUAW already has two people in line and is inviting you to join them as "die-hard Mac zealots" dissect the device over the weekend.

The three Canadian telecommunication companies, BCE Inc. (NYSE: BCE), Telus Corp. (NYSE: TU) and Rogers Communications Inc. (NYSE: RG), are leading gains of telecommunication stocks following confirmed buyout talks.

Bell Canada, owned by BCE and the largest telephone company in Canada, has been rumored for the past month to have been talking to KKR and to Ontario Teachers about a possible offer to be taken private. Including today's gain, BCE has a market value of about C$30.8 billion ($27.3 billion), which would put the original rumored price of C$30 billion below its current market cap. Some mentioned C$40 per share as the magic number for a deal.

Of course, back when the rumors first started, BCE issued a denial, saying it had no plans to go private and wasn't in talks with buyout firms. Today is a different story. Today, the company issued a press release saying that it is reviewing its strategic alternatives and has entered into discussions with a group of leading Canadian pension funds to explore the possibility of taking the company private. Since the company needs to maintain a Canadian majority, Kohlberg Kravis Roberts & Co. will be a minority partner.

However, some analysts believe that a merger between BCE and smaller rival Telus is more likely to occur. According to Bloomberg, "That deal would value BCE at about C$42 a share, compared with the C$40 the company may get in a transaction with buyout firms." Even if regulators wouldn't allow such a merger, the prospects for Telus following such a deal are good.

Reuters expands on the Canadian pension funds involved here.

BCE shares are up over 6.6%, Telus shares are gaining nearly 3.5% and RG shares are rising 3.4%.