Fellow blogger on the markets, Tim Knight, over at the Slope of Hope , has shorted EWT, highlighting the similar resistance level I mentioned in my previous post. I have not entered more short positions in EWT, as this bulltardness going on in the markets is just ridiculous. I've personally stepped in front of this bulltrain many times over the past weeks, and I've gotten run over, over and over.
So, I may change my timeframe on this EWT short to a shorter timeframe, where upon a retrace downwards, will induce a new leg up in EWT.
Price level remains the same to watch for: $11.50-11.59. If this level is breached on strong volume and follow through, we may see more highs in store for Taiwan.
In other news, I'm fully short GS and AAPL as of today (another of my attempts to run in front of a bull-train).
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