ETF CORNER

EWP : Is something bad brewing in Spain ?

EWP : Olé !!!!

S&P is downgrading Spain's debt as i'm typing this. The 50% retracement level has also been broken courtesy of this headline news ....

 

Around the world !

EWP : The Spanish PIG !

I was looking at the chart of EWP (Spanish ETF) and was stunned by the fact that it had retraced nearly 50% of the rally off the March 2009 lows ! Spain is one of the PIGS counrty and you know that old wall street adage : Bulls make money, bears make money, "pigs" get slaughtered ! And that's exactly what is happening to Spain !