an tSionna {09.04.12-VGK}

Back at the end of July we published a chart of the Vanguard European Index Fund {ETF symbol VGK} and asked the question amidst all of Europe's gloom and doom why was this chart not lower?  I have no better answer to that question now than I did then but I will note that VGK is trading towards the upper end of its trading range right now and is up nearly 10% since we posed that question. VGK is up around 9% on a price basis in 2012 and according to Morningstar currently sports a dividend yield of about 4.25%. VGK is overbought like most everything else right now and it will be interesting to see how the ETF reacts to that longer term downward sloping trend line that I've shown in blue in the chart above.  That may be the real clue to the ETF's performance in the coming weeks.

*Long VGK in client and personal accounts.