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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 Ireland. Hooray for the inventors of hard liquor!



 Higher low and higher high means an uptrend for Italy. Hooray for the inventors of wine!




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.


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