An ETF tracking Taiwan (EWT)

So I've been watching EWT for a while. EWT is an ETF that basically tracks Taiwan stocks, or simpler, the Taiwan Index. EWT recently made a run-up to a 6-month high at around $17.23, and has since pulled back. That run-up was during the week before the presidential elections in Taiwan, with it making a 6-month high after President-elect Ma Ying-Jeou was voted to be the next president.

So with Ma being sworn in on May 20th, I hope to see another run up in the price of EWT as Ma has stated he seeks closer economic ties with China. I entered this trade when EWT hit its 50DMA at $16.26 and will look to exit possibly in the low $20s. The stochastics are just below 20 with the %K possibly making a cross over the %D above 20 soon. Technically, it looks like a good time to enter EWT. My time-frame for this trade is about 4-6 months, as I don't think Ma will be able to start cross-strait weekend flights between Taiwan and China by July. But, if he does, that should once again start a rally of Taiwan stocks.

Ma promised economic growth, so let's see if he can deliver it. Otherwise, possibly selling us out to China and my investment in EWT, will both be for naught.