Tuesday, November 25, 2014
IS EUROPE REBOUNDING? the answer will shock you!
Well, it actually pays off to watch CNBC once in a while. I was seeing the Euro tickers going green a fair bit regularly, so I checked the charts and lo and behold, peripheral Europe seems to be turning round a bit:
Higher low and higher high means an uptrend for Spain. Hooray for the inventors of the disco and the afternoon nap!
OK, Greece still sucks.
Anyway, I checked the Google and apparently there are now some TSX-listed Europe ETFs. Vanguard has VE, and Ishares has XEH. The latter is CAD-hedged. I don't know what other differences there are just yet.
Neither has particularly good liquidity right now, but at least I can take a position for a longer-term hold. Europe's beaten down because everyone's known for a while that they suck, and so possibly the position has more upside than the US. So I bought some XEH, ol' currency-hedging me.
I'm not going to go hog-wild for a Europe position, but I have no problem sticking a few thou there.
Note this doesn't mean I suddenly hate junior miners: it just means I realize only a moron goes 100% the juniors.