Key Market Views: Taking Profit On Chilean Equities

We have decided to close out of our long Chile All-Shares Index (IGPA) position in our Key Market Views portfolio, booking an implied gain of 7.7% since initiating our bullish call on December 14, at 16,037. Our decision does not suggest that we see no further gains for Chilean equities over the short term, but we believe that daily momentum indicators on the IGPA and an unconvincing close in last night's trading (at 17,265, down from an intra-day high of 17,339) may imply some short-term retracement.

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