India Gets Knocked Out
I have a few friends that live in India and follow the Indian economy pretty closely. One of my relatives also owned the India Fund (IFN). IFN is a close ended mutual fund.
One ugly chart the past couple of weeks. One of my friends rode this from $30 to $50. Luckily he got out. The downside volume in May is troubling. Also see EEM.
My 2 cents, IFN & TIE along with a few other high fliers look like charts from March of 2000. I will never forget when my macroeconomics professor said, "rich people love bear markets."