Taking Quick Profits in South Korea

With South Korea’s Seoul Composite Stock Exchange Index bouncing back another 3.0% overnight, Korean stocks are now trading slightly above the level that they closed at on Friday, before the announcement of the death of North Korean dictator Kim Jong Il. 

That translates to about a $53 price on the iShares South Korea MSCI Index ETF (EWY), which closed at $49.48 on Monday.  
 
While I did not think the news from North Korea would have a long-term impact on financial markets, even I’m surprised how quickly the news was shrugged off. 
 
Sell your position in EWY here to lock in a quick gain of around 7% — not a bad return for two days…
 
 
Nicholas Vardy

Nicholas Vardy has a unique background that has proven his knack for making money in different markets around the world. He was the Editor of The Global Guru, a free weekly e-newsletter, and also edited the trading services Momentum Trader Alert, which focused on making short-term profits in the hottest markets in the world, and The Alpha Algorithm, which was designed specifically to deliver big, fast triple-digit winners, month after month. He was also the editor of Smart Money Masters, a monthly service focused on longer term investments recommended by the brightest minds in the business. Mr. Vardy has been a regular commentator on CNN International and the Fox Business Network. He has also published articles in The New Republic, The World and I, and The Baker & McKenzie Legal Review. The Global Guru/Nicholas Vardy has been cited in The Wall Street Journal, Newsweek, Fox Business News, CBS MarketWatch, Yahoo! Finance, and MSN Money Central. Mr. Vardy graduated from Stanford with a B.A. — with honors and distinction — in both Economics and History, and he also earned an M.A in Modern European Intellectual History. After winning a Fulbright Scholarship, he earned a J.D. degree at Harvard Law School where he was an editor of the Harvard International Law Journal. When not uncovering investment opportunities for his subscribers and investors, Mr. Vardy is a keep-fit enthusiast and an avid student of classical music.  

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