Bookkeeping: Covering Most of iShares Xinhua China 25 (FXI) Short

By IBTimes Staff Reporter | December 18 2009 2:40 PM

It's been nearly impossible to short anything for a sustained period of time, but finally a victory. With the performance the past 2 days, I am covering almost all iShares Xinhua China 25 (FXI) short in the mid $41s, and will re-engage the short on any moderate bounce.

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A few quite poor technical situations are emerging (a) FXI just created a lower low i.e. lows reached the past 2 days are below late November levels and (b) the 20 day moving average is about to cross below the 50 day moving average... hence a shorter time frame MA is crossing below a longer term, not good.

I'm starting to notice some quite substantial weakness in foreign markets... I assume much of this is due to the US dollar strength but it is something to keep an eye on. Might be foreshadowing something...

Short iShares Xinhua China 25 in fund; no personal position