Other Side of the World
October 12th, 2005 by BWV
With so many country/region ETF’s now trading on US exchanges, it’s really simple to make a play in foreign markets these days. Trading them profitably is just as difficult as ever.
I grabbed some of the Australian stock market index today.. I like the pullback to support around $18.40.. where the bottom of the uptrend channel also resides. I’m keeping a tight stop..a break of $18 would take me out.. roughly 2% risk.
With the US markets looking like a crash is coming, I’ll try to make a buck or two somewhere else. Plus, minerals/mining — a strong sector — is a big part of the economy Down Under.
Hope this doesn’t end up tasting like Vege-mite.
Long EWA
