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hungry_hippo

EWZ Not Done Yet

Long
iShares Inc iShares MSCI Brazil ETF (AMEX:EWZ)  
hungry_hippo Updated   
AMEX:EWZ   iShares Inc iShares MSCI Brazil ETF
Chart Patterns
2
0
chartpattern
Always looking for high gain plays, especially since I'm convinced the market is going to melt up for 2 more weeks.

Looks to me like EWZ has one more leg for the double top. This is not currency hedged so the dollar weakness helps as well. Into some Jan 25 calls with my GM profits.
Comment:
Can't plot USD/BRL on this site, but it's got a massive head and shoulder pattern going. Brazilian real might be on a upswing for up to 6 months. Wirth taking a look:

www.investing.com/cu...encies/usd-brl-chart
Trade closed manually:
Took the small profit this morning and closed it. Not feeling very bullish anymore.
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