Australia iShares (EWA)

Here's an ETF that gapped above its 200dma. Because I am bullish on the Australian Dollar, and because I am also bullish on stocks in general, it is only natural to be bullish on Australian stocks as well.

I went long this ETF at the open today. My stop loss point is $14.52 or a violation of the 50dma; which ever comes first.


My capital remains fully deployed on the long side of the market. The reason for this is because the market is strong, and the trend is up.

For weeks, I have heard many other investors say that the market has become overbought, and, as what often happens, the market has become even more overbought, which means that they are now even more right. One thing I have learned is that being right and making money are two completely different concepts.