This post was just published on ZYX Buy Change Alert.
The ETF seeks to replicate MSCI United Kingdom Index.
This ETF also provides an attractive dividend of about 3.58%.
The position is long with an average price of $14.62. Currently, 65% of the full core position size is being held. Previously profits have been taken as high as $17.33. Consider taking profits on a 10% tranche right here in the zone of $18.05 – $18.30.
Our positive thesis on United Kingdom has not changed. The purpose of this call is to reduce the over all exposure to the market in view of the dissention in the Fed regarding Quantitative Easing (QE) and to raise cash so that we can pick up bargains at better prices later on.