i was looking for an entry long in KEP - different structure - but thanks for the heads-up...
EWY- Korean Capped ETF - Beautiful Bearish Butterfly
Started by
Geomean
, Jan 26 2017 10:29 AM
@ .786 Retrace TDSEQ Sell Hrly
12 replies to this topic
#12
Geomean
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Posted 28 January 2017 - 11:13 AM
i was looking for an entry long in KEP - different structure - but thanks for the heads-up...int
I took a look at KEP. At times it is highly correlated to EWY, but they have diverged since mid Nov 2016. My count just from the Aug 2016 KEP high is a 3 wave A-B-C corrective down move that is about to complete. It is in a minor wave 5 of an intermediate the C wave. A TDSEQ buy set up completed 1/4 and Friday printed an 8 of a TDSEQ Countdown buy signal, which is the qualifier day for fully qualified countdowns (12 & 13 must close lower than 8).
If we are about to see a top worldwide in equities, then it seems logical that KEP could move contra EWY, indeed it might be an interesting hedge. The downside TD Demand line on the daily is 17.26 and on the weekly is 17.15. The Weekly is on a TD Combo 9 of countdown buy signal. Does KEP pay a dividend??
Opportunity knocks on your door every day-answer it.
#13
dasein
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Posted 28 January 2017 - 03:49 PM
thanks for the thoughtful input Geo - yes KEP pays a pretty nice dividend - in WON of course so you have FX exposure as well! it is an electric power company so one should see the same - "safe haven" behaviour - I dont think anyone has been implicated in the political scandal...or a nuclear meltdown - yet,,,
best,
klh
klh
