Monday, September 2, 2013

Megaphone Pattern in TUR

I completely missed to look at Turkey. There has been so much action elsewhere in emerging markets and it didn't show up on the scanners but the chart looks interesting.

TUR (3X Inversed)
The 3X leverage inversed chart is up 400%. The timing on different markets in emerging markets may be different. Some might do an overshoot of the latest top while others are already moving down from the latest spike. When gold miners ETFs had already spiked, individual gold stocks where spiking several days after. If something similar happens in individual emerging market ETFs that would be an excellent opportunity for entering a position.

No comments:

Post a Comment