EWT Short Entered

I entered a short position via Sept 09 Puts, $10 Strike at around $10.13 on EWT. Cost basis is $0.85. Updated chart below:



There is a battle at the $10.15 line, and if it resolves to the upside, I may stop out at the current double top around $10.50.

Edit: May be a bit early to tell, but so far EWT looks like it will be moving down on Monday's open in the US considering that the TAIEX just closed 3.45% down. So far so good. And I'm making no predictions here yet, but just last week, a manager of a Taiwan fund called for 15,000 on TAIEX by 2011, and that "Taiwan stocks will be driven by “the China factor,” Lin said. “We have China on our side.” Let's keep this in the back of our minds as we head into 2011. For some reason, I find it so hard to understand how some people get these positions in these funds. How can one predict the price of a stock/index 2 years away? Furthermore, basing it on one factor, you also have to take into consideration the other side, what if China's economy stalls or also falls in this economy with a depression looming? Things for you to think about.