Rate of return is still bullish but rate of friction is bearish. This lead to stronger bearish market to normalize returns.
XU100 is turkish largest 100 company stock exchange. despite the higher XU100 index , Turkish equities seems too weak against USD. another strong reverse possible from the bottom ? why not ? ^^
Crazy crap, Turkey rallied again today. Looking to buy puts next week, getting close to the resistance zone. Plus FDAX is almost overbought on short term charts.
BIST is overbought on daily, weekly, and monthly charts. Who would've guessed that superinflation would be good or a stock market? LOL.
Shorting Turkey via TUR ETF. I think the currency tanks faster than they can pump their market, lol. At he resistance area anyways, so worth a shot. Overbought on daily RSI
I’d like an ETF for E7 Countries, holding their ETFs (Brazil EWZ; China MCHI; India INDA; Indonesia EIDO; Mexico EWW; Russia ERUS; Turquia TUR). Theses countries has been more GDP upside than the G7 Countries. An this must go on. *** The Russia ETD was excluded for the “index” because it isn’t been working on. I’ll include the ETF ERUS after the war.
Nice breakout here on Turkey ETF TUR and close above 30week MA I'm long shares Technically looks like Wyckoff accumulation pattern with "Spring" action in DEC and now entering phase D Expect a little LPS pullback , but I remain bullish above 20 zone. First target 24 zone, implies 30 , and a possible break there , well it's been resistance since JUL 18 so...
Some people have been pointing out to me that the Turkish stock market has been hitting all time highs consistently through 2021. However, this is only apparent when looking at Borsa Istanbul Index in Turkish Lira. Once you look at it in term of USD, it becomes quite clear that the opposite is true. The Turkish stock market has been hitting new lows consistently....
I don;t know if y'all saw the currency run last week, but hilarious crap. This is why I trade TURd options. I once caught one of these runs and made an absolute killing.
TURd overbought and at resistance, bought a few Aug and Sept puts. Seems at this point I'd be chasing the drop on any other stock... No reason for Turkey to rally when all other markets are dropping
Back in 2018 I made a killing on TUR puts when there was a bank run on the Turkish Lira. Could happen again this weekend. Threw all my profits from today into TURd puts. This could be a double top though.
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...
TURKEY ETF may be forming ASCENDING TRIANGLE bullish chart pattern.
When in doubt, short garbage. Small position in July $23 puts, for kicks and giggles. It's coming off an overbought condition, but the ETF is not always indicative of currency trade or BIST.
I think the Lira rally is over, TUR appears to have broken the trendline. Keep in mind that this is not currency hedged, so you're basically betting against the Lira currency. I'm always looking for things to short since I can't get bullish on this market. I expect the US market to bounce later this week, but that won't help the Lira.
Turkey economy in the news for good portion of the week, end of week got better as US and China agree to meet back at the bargaining table. Dow Jones the leader this week up 1.41% followed by SPX up .59% while Nasdaq lag the trend down -.29%. Small caps RUT eek out a gain up .36% for the week. ...
Could go either way maybe break the 7 level who knows. One thing is this is not a good sign for Turkey's economy the dollar getting so high or could it be worse for the US dollar longer term? Will be on watch next week, but not sure if it will get more volatile. Could it be if other currencies move as well other emerging markets. usdcnh or usdzar maybe India...
Not showing it on this chart but monthly clearly shows double top pattern that trap a lot of bull on its recovery from GFC to the end of QE, well supposedly around the time the Fed was thought to end its easy money policy. Yes it can be debated about a when where and how would be achieve by the Federal Reserve. Charts are setting up beautiful, trade headlines...