The kospi has doubled since it formed a double bottom in September 2001. But right now it is headed into some overhead resistance. I'm considering shorting some for a medium/long term trade (wide stop loss) and would appreciate any thoughts; especially from those traders in Asia with more intimate knowledge of this market. The trading vehicle would be a closed-end fund, by the way.
Well this trade hasn't provided any real coin yet but is that a head and shoulder I see? I'm holding a bit longer as per the original intention. Korea Fund (KF:NYSE) Any ideas? Comments welcome.
Hmm, I was considering taking a long position in EWY and hedging it with a short on SMH & WMH on the belief that Samsung & SK Telecom would outperform their brothers. Now you've got me doubting. Regarding KF, are you aware of any website that offers good charting of the share price and NAV other than ETFConnect?
Not sure about the Korea Fund but since April 15th the index is down from 117 to 102. I was definately more bearish back in April than I am now.
def, its a bit frustrating that I was right but haven't gotten the 12-13% move that the kospi has made. Instead I've got KF which is just rolling around like a cat in catnip. Oh well, it could still give me something. Does IB offer trading in the korean market? On the homepage it says access to 16 countries and 40 markets but I only count 7 (HK, Swiss, Germany, US, Australia, UK and France) Anyway here is what I'm thinking/hoping might happen:
If Korea wins the world cup all bets are off, you would not want to be short..... The day you made the original posting I was talking to someone about the one trade we would make and we both thought Korea was due for a sell off. I felt strongly then but don't feel too strongly either way now (that could change on a moments notice). Too bad about the KF didn't follow suit. As for IB: the access for all the countries on the site is available to institutional accounts. One by one additional access will be given on the cleared/retail side. As for Korea, I'm working on it. It will depend on a number of factors which I'm not at liberty to discuss at the moment.