The ETF on ASX is $IKO South Korea, iShare MSCI South Korea. This ETF tracks $EWY in the US Market. I like this wedge chart pattern here, we are still trading sideways since the start of the year. A breakout is coming, currently, the price is still above all three moving averages, (21,50,200). Therefore, it is more likely to break out into the upside. Buy...
Select Emerging Market ETFs (U.S. listed in $USD) falling since Jan 2021, not like the IXIC (Nasdaq Composite Index) only since mid Feb: Russia RSX, Brazil EWZ, Mexico EWW, South Korea EWY, Thailand THD, New Zealand (ENZL - small market, not emerging market).
EWY posted the same pattern as it did before the last 2 big drops. Entered into some puts today for next week. There's still room for it to go hit resistance and ATH, the 2 lines I've drawn. If it goes up from here, look for a similar pattern before shorting. I'm bearish for Monday, but who knows, they can do another vaccine pump, 3 weeks in a row, lol. Note,...
CUrrency looks like it got rejected by resistance, should whipsaw here.... hopefully down next week. When trading foreign index ETFs like EWW, EWY, EWZ, or TUR, you gotta pay attention to the currency trade as well. The funds are NOT hedged against currency which means you're playing both the index and the currency. You can trade these ETFs to take advantage of...
Japan and Korea both overbought and appear to have rolled over. Could this be the end of the vaccine pump? We'll find out later this week, but I would count on Asia to pump futures for the rest of teh week.
THeir COVID numbers are actually going up, and KOSPI futures are obviously overbought
Korea isn't being hit by COVID at all, but they're still looking at deflation and their GDP is down.... Yet we're approaching ATH. If the market goes up next week, I'm buying some puts on Wed.
Out of all major indices, Korea is down the most tonight. I didn't realize that EWY now has weekly options, not as much liquidity as EWW or EWZ, but at least they exist. In any case, looks like a H&S pattern..... also, note how much bigger the movement compared to SPY. I always tell people teh return is better with foreign index ETFs.
Use election as a bull catalyst.
While there are folks that may disagree, i've always looked at the $EWY as an early indicator of possible downside pressure, globally. If you look at this chart, the EWY has been step laddering against the SPX, diverging much more so at the beginning of 2019. While the SPX was making new highs and posed to break out to new levels, the EWY steadily continued its...
I've made a lot of money in the powerful bullish market in Korea. This trade set up is very simple. If we see a bounce from current levels within the upward channel early next week, then I will get long.
EWY, the ETF that track South Korean index has recently breakout of its 7-year long consolidation range. Bullish signal with target of 90.42 and stop at 64.42. Risk-reward 1:5.1
Ended up going with the fly. Filled for a 2.59 credit. Metrics: POP%: 42% Max Profit: 2.59/contract Max Loss: 2.41/contract BE's at 60.41/65.59 Theta: 1.54 Delta: -6.72 Notes: Shooting for something north of 25% max ... .
I haven't traded this particular instrument before. For obvious reasons, now seems like a perfect time. The first of the two trades is a short strangle, with the shorts set up at the ~30 delta strike: JUNE 16TH 60/65 SHORT STRANGLE POP%: 59% Max Profit: $140/contract Max Loss: Undefined Break Evens: 58.60/65.82 Theta: 3.01 Delta: .78 The second's a defined...
With VIX in another ebb and a paucity of high quality premium selling earnings plays in the making for next week with both high implied volatility rank and high implied volatility, I'm looking at exchange traded funds instead for potential plays. For instance, EWY, the South Korea exchange traded fund, makes sense in the current geopolitical environment, and its...
EWY has gone on a huge run but pulled back lately due to concerns regarding the Syria missile strikes. It has lost about 5.5% from the highs but we are starting to see volume coming in here. The combination of a geopolitical event that is indirectly related and volume increase makes me a buyer at these levels.