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Short the iShares MSCI Germany ETF (EWG)

Posted July 10, 2008

“A rule of thumb for trading is that major support lines normally hold while minor support levels usually break. What that means for EWG is uncertainty: a jump back to recent highs or a fall off a cliff.” — Sara Nunnally

by Sara Nunnally

Baltimore – (TFN): The iShares MSCI Germany ETF (EWG) will make a lot of people a lot of money in the next 12 weeks… but not everyone.

This chart shows EWG trading at a critical support level. A rule of thumb for trading is that major support lines normally hold while minor support levels usually break. What that means for EWG is uncertainty: a jump back to recent highs or a fall off a cliff.

I’m biased towards a fall off the cliff. Just look at momentum getting ready to turn negative like Karl Rove in a presidential campaign.

Not to mention that manufacturing numbers show a fall of 2.4% when economists expected a rise of 0.3%. Read on to find a chart of EWG’s performance and learn more.

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Posted by Sara Nunnally · Filed Under International Investing 

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