Wednesday, March 2, 2011

EGPT Trade (short)

I hope someone got in on this one, don't discount the events in Egypt, there has been no regime change (the military is the regime) which will lead to conflict at some point. You don't hear much about it, but protests are ongoing in Egypt and the revolutionary business hasn't even started there yet. Look at Tunisia, the first domino, already radical islamist are filling the power vacuum. So this is one ETF with good mid east exposure and it's a longer term position so risk management wise, I like a wide stop, I like the idea of shorting on strength as it is bound to be short lived.


 It's volatile, but trending down.

The 2-day Trend Channel stop just north of $19-please stay way from whole numbers like $19 for stops, use 19.11 or 18.87, but not $19.

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