World Clock

Friday, 11 February 2011

Investors Appear to Welcome Mubaraks Resignation - Evidence the EGPT

The huge spike on substantial volume in shares of the EGPT Exchange Traded Fund would appear to highlight investor optimism.


Just looking at the surge in the price of shares in the EGPT ETF on substantial volume shows that after news initially broke that Mubarak was resigning that investors would appear to welcome the news. This Exchange Traded Fund has been coined the futures exchange for the main Egyptian market, which has been closed for nearly two weeks. Also the MACD (see bottom section of chart) shows that there is clearly upward momentum in this ETF, especially in light of the huge pessimism that was prevalent during the past two weeks.

Also notice that the share price has almost recovered to pre-crisis levels. Another potentially good sign.

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