TUR finally broke yesterday and rebounded today.
Thing is, when stuff goes parabolic they drop just as fast. Bought a few puts today for kicks and giggles. Not a sure bet but nothing is right now, lol
Crazy crap, Turkey rallied again today.
Looking to buy puts next week, getting close to the resistance zone. Plus FDAX is almost overbought on short term charts.
The fund generally will invest at least 80% of its assets in the component securities of the underlying index and in investments that have economic characteristics that are substantially identical to the component securities of the underlying index. The underlying index is designed to measure the performance of the large-, mid- and small-capitalization segments of...
Shorting Turkey via TUR ETF.
I think the currency tanks faster than they can pump their market, lol. At he resistance area anyways, so worth a shot. Overbought on daily RSI
TUR has been in a sideways consolidation since mid 2018. In Dec 2021 (3rd week of month), demand showed up in a major after washing out and springing the multi year lows (08/18, 3/20, 10/20). This was was the widest spread bar, on the highest volume in this multi consolidation since the climactic low in Aug 2018; price closed near the highs and is emblematic of...
Nice breakout here on Turkey ETF TUR and close above 30week MA
I'm long shares
Technically looks like Wyckoff accumulation pattern with "Spring" action in DEC and now entering phase D
Expect a little LPS pullback , but I remain bullish above 20 zone.
First target 24 zone, implies 30 , and a possible break there , well it's been resistance since JUL 18 so...
Some people have been pointing out to me that the Turkish stock market has been hitting all time highs consistently through 2021. However, this is only apparent when looking at Borsa Istanbul Index in Turkish Lira. Once you look at it in term of USD, it becomes quite clear that the opposite is true. The Turkish stock market has been hitting new lows consistently....
Hello, it doesnt look good for Turkish Stocks.
Index was trading slightly above important support for 3 years now and it seems it just broke out to the downside.
If this support zone breaks it could fall -50%+
We saw 3 years of trying to go up from here without succes.
DYOR.
Firstly, guaranteeing cash deposits against FOREX depreciation does nothing to restore faith in a broken central bank.
Secondly, any time a Government imposes draconian fiscal rules (banning crypto or discouraging USD), society revolts.
I don;t know if y'all saw the currency run last week, but hilarious crap.
This is why I trade TURd options. I once caught one of these runs and made an absolute killing.
TURd overbought and at resistance, bought a few Aug and Sept puts.
Seems at this point I'd be chasing the drop on any other stock... No reason for Turkey to rally when all other markets are dropping
