We've had a very nice rally in a very short period of time in iShares Singapore (EWS) which I just restarted 2 weeks ago [Mar 17: Restaring Stakes in Malaysia and Singapore]. I don't have a huge position, but since I bought in the $11.70s and we have quickly spiked to the $13.20s, considering this is an entire country index, that is a heck of a move - so I am going to take this 13% gain and lock it in, and reduce the position to 0.1% and hope for a pullback.

The chart below has an incorrect moving average, the 200 day moving average is $13.40 so we soon approach resistance.... this is purely a technical move and to lock in a very quick short term gain.

I continue to favor non US exposure and will for the foreseeable future - will look to add back to this stake on a pullback.

Disclosure: Long iShares Singapore in fund; no personal position

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Trader Mark

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