South Africa will be hosting the 2010 FIFA World Cup ! Will this major soccer event attract more capital into South Africa and allow EZA to rally much further in 2009 in anticipation of the event ?
As far as the chart goes I see a major hurdle right below the $55 level that would very difficult to overcome ! EZA has doubled since the October 2008 low @ $25 and I believe that the "World Cup effect" is already priced in ! My guess is that the soccer ball will not go above $55 in 2009 nor in 2010 ! I recommend selling EZA as it approaches $55.
P.S : I will be supporting the French Team eventhough "they stink" ! ZIDANE ,please come back !!!
EZA : iShares MSCI South Africa
