Tuesday, December 04, 2007

FXI Trade



FXI is in a long term uptrend on the weekly chart (not shown). Above is a daily chart and you'll notice a 1-2-3 formation which is developing. If FXI takes out last week's high (point 2) in the next few days, I will be a buyer. The stochastics are also in the buy zone which in my opinion means a possible buying opportunity. My view is that this is a pullback within a bull market so I'm going to look to buy this dip.

6 comments:

Shen said...

Hi, Kevin, can you share some of your opinions about the recent movement of bond market, do you see it as bullish for stocks? I remember you had a bond V.S. stock market relation chart earlier this year, do you think that relation still be applicable in this current market?

Thanks

Telenetworxx said...

Are you wanting FXI to close above 192 or just go above it intra-day?

kk said...

Hi Kevin,

If you are bullish on FXI, I think you don't wanna miss EWH. Big arbitrage opportunity in the future. Tianjin is the experiment spot right now, if China determines to let peoople over the country arbitrage between Mainland A share and Honkong H share. You will see EWH flying...

JBetz said...

Great looking trade Kevin, especially after today's action. I was taking a look at the 60min chart of FXI and I'm seeing a head & shoulders bottom in my opinion with a gap above the neckline today. You may see it differently, but thought it would add to your bullish analysis at the moment.

H&S

chiu said...

Kevin,

Is 89 week MA good for this FXI ?

Chiu

kk said...

Kevin,

Could you kindly let us know what's the target for FXI? Thanks!

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