We bought into this European equities facing ETF in 2021 and considering the carnage that’s unfolded through many indices and sectors a paper loss of ~8% almost feels like a win! The ETF looks solid around the 50 area in-line with our general view towards equities across the region and again assuming we are correct that a bounce is close at hand for “risk assets” we can see the VGK bouncing well over 10% towards the 60-area where we are likely to take a small profit and reassess.
MM’s ideal exit for the VGK is around the 60 area
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