The time’s right to short the iShares MSCI Germany ETF (EWG) says Sara Nunnally. She thinks it can’t hold it’s current level much longer – get in now before it drops faster than Gee Dubya’s popularity rating.

The iShares MSCI Germany ETF will make a lot of people a lot of money in the next 12 weeks… but not everyone.

This chart shows EWG trading at a critical support level. A rule of thumb for trading is that major support lines normally hold while minor support levels usually break. What that means for EWG is uncertainty: a jump back to recent highs or a fall off a cliff.

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I’m biased towards a fall off the cliff. Just look at momentum getting ready to turn negative like Karl Rove in a presidential campaign.

Not to mention that manufacturing numbers show a fall of 2.4% when economists expected a rise of 0.3%.

Source:  Short the iShares MSCI Germany ETF (EWG)