TRADE UPDATE – EDZ
It has been a couple months since I last had a trade in an ETF. I'm going to be touching on the culmination of events thus far in 2012 that have led me to this point. It will be a good refresher for myself and hopefully of benefit to readers. That's the next post.
For the time being, I did initiate a short position via leveraged inverse ETF in EDZ. Emerging markets have been relative underperformers recently. There is weakness in the commodity markets and Dollar strength both of which are contributing to the obvious pressure being applied to emerging markets.
I will be going over the technical details in the weekly chart review tomorrow. Here is the tweet sent out before the close yesterday:
It is simply a hedge versus long exposure. I am holding onto all long positions.
In addition, I will be tuning up the frequency of short-term trades over the coming weeks and months as I have a nice cushion of gains so far in 2012 from which to launch an offensive assault.
