The good thing about FXI is that it is an ETF so you won't get rattled by an unexpected surprise. Yes you are right, it is up a lot recently. Time for a pullback. I am not expecting too much. It can easily hit $38 in a week. I just expect a modest profit.
That is also suprises me (the quote before the bell) but I am not worried. I am still hopefull that it will drop more to the close. 41.75 now 9:00 AM ET
Just a general question and maybe a wake up call for everyone. FXI is up to 42.25 now. It also hit 41.60 on Friday which was the price that I recommended to short. You could have got out if you were so scared. How many did you short? 20,000 shares? I am still holding to my short and I also bought August 40 PUT for 0.95. I know I should be able to cover it with profit. I have traded FXI a lot. You should never enter a trade with stop loss or trade it in a level that you can tolerate some price fluctuations if it goes against you. Do you still have your shorts? Your short price could not be lower than 41.60 so you are at loss $0.6 max
Why are you shorting anything in Asia? http://online.wsj.com/article/SB124865679883782729.html The Nikkei was up 2.1% at 10,151.18 points with Australia's S&P/ASX 200 up 1.3% and South Korea's Kospi Composite 1.6% higher. New Zealand's NZX-50 added 1.1% for its highest point since October 8, with Taiwan's main index up 1.1% and Hong Kong's Hang Seng Index 1.8% higher. "People say the rally is going to fade, but that's rubbish. There's obviously cash coming in from the sidelines and I'm seeing very little resistance," said Southern Cross Equities Director Charlie Aitken.