WX opened substantially higher than the previous session, recorded a higher high, a higher low but closed down dramatically, minus $2.08 or minus 5.32%
The question is "WHY"? Theirs nothing in the headlines that would/could explain this disaster.
Curious and just asking.
On my chart it shows resistance/supply at $39.49 recorded on 03/05/14.
As your message suggests, T is not going to drop between 6% or 7% by the end of the week.
I'd recommend that you cover your "short position".
Take your 5.72% dividend and be happy.
I hate to agree with you as I am long this P.O.S. At 11:31am et [TUR]key is down -$1.24 or --2.82%.
Today, is it Prime Minister Erdogan's fault, the falling Lira, or the ongoing corruption in the country?
Whatever happened recently to the huge increase in the lending rate that was supposed to help out this countries financial numbers?
Shorts have been in complete control since 05/22/13 when it hit a 52 week high of $77.40.
Down an incredible -44.87%.
The net assets controlled by M.S.C.I must have shrunk to half it's prior amount.
One trend is ending, downtrend, and a new up-trend has begun.
Support has settled in at #$%$ and so far has held.
The train is leaving the station, get on board.