Suggested that “Chile looked Hot” in the chart below and to buy it, due to a breakout of resistance at (3). (see post here).
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After a good upside move I suggested to “harvest” the gains in Chile, due to the pattern that the ETF had created. Picked up some decent “pocket change” on the position. (see Chile harvest here). Chile is now breaking resistance again in the chart below.
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Game Plan…Buy Chile ETF (ECH) with a stop at $74. Will continue to update this position and stop.
Bob in Ma…Chile, for all its good fortune, does not have the responsibility of defending the free world from all the two-bit dictators and despots that the United States does. What has that backwater produced to benefit mankind? Besides simply being the repository or copper ore, not much, I’m afraid. It’s easy to be on budget when you have no expenses such as taking care of your poor people, funding the United Nations, erecting a defensive wall around crazies such as North Korea, Iran, Syria, the old Russia, China, and any other bad guy who raises his head.
I guess its OK to make money off of them but to admire their abilities as managers of their economy, I feel that admiration is mis-directed.
Good calls your on top of this..
What “concerns” me is that if you view the markets in general,they are all having head and shouldeers….one can avoid this for a while while they go up..China, for eg.
but they , i think, they continue to roll over on top their heads.Look at the 5 year (bid) chart…it shows the big head,
really shows what coming to the town…
good site…tks
Bob brings up great points…as viewers know, I am picking this up on a price breakout.
FYI…EWY is breaking above what looks like an “inverse head & Shoulders” neckline.
One of my first investments, in December 2004 was a Chile focused closed-end fund. I bought it when the share price was a big discount to NAV, it rose like a rocket for the next year had had a huge payout. Those were the days… 😉
Chile is probably one of the best managed economies in the world. They very wisely have invested the royalties they get from copper exports. So when they had that earthquake, they had the cash to rebuild.
But at the end of the day, they are pretty dependent on copper.