Thursday, October 20, 2011

MoKhad is no more

With the former Libyan leader now captured and rumored dead, let's take a look at how capitalism in the region has fared since Egyptians first threw out Hosni and crew.

This is the Gulf States ETF and it is back down to post-Egypt revolution lows. EGPT (Egypt ETF) moved straight down from its 2010 highs without the recovery bounce seen here.

I am steering clear of anything political but the chart shows that local markets are not pleased. Of course, there are technical levels (support at shown lows and trendline from the Jan peak) in play. 

In Quick Takes Pro this morning we had a chart of the BRIC ETF and it, too, was not happy. Where to put your money? Good question. Everything looks nasty.

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