EWW Mexico double bottom

Looks to me like it's headed towards another bottom. No reason why it should go up anyways, their whole country was downgraded last week.

If Feds don't cut rates, this will tank on the currency exchange alone.

تم إغلاق الصفقة يدويًا:

Hosed.

تم فتح الصفقة:

Feels like I'm chasing this a bit, but with nothing else to short, I'm at it again.

Next week's puts.

تم إغلاق الصفقة يدويًا:

Decided to go into Brazil puts (EWZ). Figured I don't want a huge short position, so I closed this one out with a very small gain.

تعليق:

Haven't played with this in a while, but timing indicates another gap up Monday, a bull flag dip for a couple of days and rally into the Fed meeting.

If the Feds don't cut rates (which I do not expect them to) then the dollar will go up. This ETF is not currency hedged so if USD/MXN goes up, this goes down....

You can see USD/MXN coiling on the monthly chart, pay attention to the exchange rate if you're in this long term.