TURd

Pretty typical for TUR to backtest support, rolling into Feb puts

Trade active:

BIST is going up but the Lira is tanking faster. Maintaining position despite the world makert pump.

Comment:

They're projecting 20% inflation and their market's not going anywhere, so this will eventually wind up at $20, a matter of when. Could take all year I suppose.

Note: TUR is not currency hedged so it moves with the exchange rate.

Trade closed manually:

Going to close this for a small loss today, don;t like what I see. Money flowing into every market, even Turkey which is ridiculous since the Lira drops 20% every year due to inflation. Will revisit this towards the end of the month, expecting it to back test the trendline up then tank.