timwest

General Moly (GMO) has tracked along with FXI (China)

BATS:FXI   ISHARES CHINA LARGE-CAP ETF
446 2 0
But look at what it is telling us now.

GMO is far more volatile than FXI             and therefore accentuates the moves.

GMO appears to be alerting us to a downturn in the FXI             .

It made sense to me to just go ahead an post this chart while I decide exactly how I would like to enter this trade.

Most likely I will buy GMO and sell short FXI             , but I might only short FXI             . It has also stalled from making new highs along with the US markets and could also be giving us a leading indication. The risk is small at only a few percentage points and the downside appears medium at 5% to 8%.

Cheers.

Tim 1:07PM EST January 28, 2013
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
timwest PRO
3 years ago
FXI has indeed turned down as indicated by GMO's leading weakness.
Reply
osci
3 years ago
vy interesting comparison. tnx forthat. since june a Little choppy so far. a see a descending triangle in GMO.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out