This post was just published on ZYX Buy Change Alert.
EWU, an ETF that represents the United Kingdom, is long with an average price of $14.62. This ETF is trading at $19.17 as of this writing. 45% of the full core position size is being held. Profits have been taken as high as $21.
This week FTSE, which is the main stock market benchmark in London, hit a 15 year high. Since our last profit taking on EWU, EWU is down because the British currency has weakened against the dollar.
British elections are ahead. They are likely to be chaotic providing an opportunity to buy at a lower price.
This is a very long-term position.
What To Do Now?
Those in the ETF may continue to hold.
Those not in the ETF may consider starting a scale-in on a dip into the buy zone.
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