Last week EWZ spiked up 6% on the rate cut, only to fall back 2 days later below its July 23 high of $68.95. That drop made for a very nice short.
Today EWZ made a definitive late afternoon move and closed significantly above the previous high. Is this a new short in the making or will the highly volatile EWZ ride to new highs?
If you caught the up move today, the intra-day gain was a very healthy 2% NICE!!
I'll keep my eyes on this one...for future short or long opportunities.
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