Looks to me like it's headed towards another bottom. No reason why it should go up anyways, their whole country was downgraded last week.
If Feds don't cut rates, this will tank on the currency exchange alone.
Went long on EWW with profits from my GM puts, I'm betting that the Mexican president will respond with some BS to placate Trump over the weekend.
Small play, next week calls, only 10 contracts. This one is gonna be hit or miss I think.
Mexico is relatively cheap compared to other emerging market stock exchanges. In addition, I agree with several analysts that Mexico could be the winner of the trade war between USA and China.
My investment strategy indicated a buy signal for EWW on May 21, with a target price of ~48 USD/share (expected profit of ~7.5%).
When in doubt, short garbage. Candlesticks tend to work well on EWW, and the Mexican market goes down when the US market goes down.
2 day trade with weekly puts, though the safer play might be next week's puts.
20 contracts, next week's calls for kicks and giggles. They'll probably pump the markets while we're on holiday Monday.
Looking for a bounce back to $45, will close out the trade Tuesday afternoon regardless of where it's at.