This whole world has gone Turkey stupid (see TUR), OK is close to all time high because GDP went up 0.1%. that's right, 0.1% Wow. I do not recommend shorting anything until one of the Fed members tank the market next week, lol. Watch the event schedule next week. look at Mexico (EWW) as well. The whole world has gone pumptastic. Too much money floating...
$EWU UK ETF - Breaking down out of long term consolidation pattern. Medium term target = $27.50
Expect a rebound in $EWU
In the Brexit spike, the fat finger spike, and the Trump spike, in each case we got around 61.8% retracement before a further fall. However, if you overlay Aug-Oct 16 price action to now, it gives a clear fit to Trump action, suggest a further fall (in USD). This is one of my wilder hypotheses, btw
On a fairly regular basis, I look for things to add to my covered call portfolio. While on occasion I'll dabble in individual underlyings, my preference is to look to exchange traded funds that represent an asset class (e.g., XRT (retail), XLF (financials)) or market (e.g., EWZ (Brazil), EEM (emerging markets)) so that my hat's not always hanging on a single...
Although I always hate to miss putting on trades in a high volatility environment and generally don't like to exit setups merely because "something is happening," Brexit may be one of those special situations where it is likely that whichever way Brexit goes, the movement may be overly large, whether it takes the form of a relief rally on Bremain, or a...