Border Fences, America in the Middle and Money

• Posted by Greg Harmon
• on March 28th, 2013

The debate on immigration has been heated at times. Who wants to keep who out and how do we do it? Kind of crazy for a country founded on immigrants if you ask me. If you want to set some real criteria how about looking at the markets as a way to set our borders. If you have been a long time reader you will not be surprised to see that this measure would suggest embracing our neighbors to the south and not the north, when I wrote about it 4 months ago here. The ratio of the Mexican iShares, $EWW against the Canadian iShares, $EWC since then has moved from 2.43 to the current 2.62. But it still looks like it has

more in the tank. The chart below shows that the ratio has had a couple of Measured Moves higher that moved the ratio higher by 0.28 and is now working on the third. This will take it to 2.73 or another 4.2% higher. With the Relative Strength Index (RSI) bullish and rising and the Moving Average Convergence Divergence indicator (MACD) curling back up with ever increasing accumulation/distribution, there does not seem to be an end in sight.

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Dragonfly Capital Views Performance Through March 2013 Expiry

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