Let’s just call it the “Europe Short“. For months now, I’ve been suggesting dozens and dozens of times to short the likes of EFA, IEFA, EMB, and EZU. To say those ideas have behaved spectacularly is an extraordinary understatement. I mean, Good God, just look at this:
The sighted among you probably noticed that red circle I’ve drawn. That’s where it is now. Could this be major support for EFA? Maybe. But this is from the same guy who extracted an 80% profit from the trade which is now at a 300% profit. So don’t listen to the likes of me, except when it comes to chart ideas.
Here is a longer-term view. As you can see, the trendline is peculiar in its placement, almost to the point of being un-Tim-like. But I laid that line down many months ago, so I’ll leave it be. Suffice it to say the touchpoint today is probably meaningless.
Ironically, all of my short positions are U.S. based, even though Europe has provided the better opportunities and better profits (being, one, closer to the war action and, two, far away from that meddling Jerome Powell).
I truly hope some of you have made king-sized profits. I made a Knight-sized profit, but it was heavily taxed by fear and doubt.
