Wednesday, February 14, 2007

Ireland's Big Break

IRL, a closed end fund that invests in Irish companies has broken out of a large consolidation pattern. It actually happened yesterday and it was to my detriment that I missed this yesterday because it's run pretty well today. However I think it has more to go considering how large the consolidation was and the fact that these foreign funds get bid up pretty quick. I think it should be bought here in bulk because these emerging markets funds always tend to get overbid. The next resistance looks like around 37, it's all time high. I think it should have a relatively easy run up there.

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