Monday, June 20, 2011

EWZ post Moody's Upgrade

Took a long position in EWZ after Moody's upgrade this morning. I've been itching to start picking up some emerging market exposure and the EWZ was sitting on bottom of range TL support. I started a small position right at the open and booked a .50¢ cushion in it as it failed to break out of the DTL and close above the 5 & 8 EMA's. Will look to add if it successfully breaks and holds above the 8 EMA.

Moody's Upgrade info:

Daily #1

Daily #2


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