Is the iShares Australia index ETF (EWA) a buy here?

| About: iShares MSCI (EWA)
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I had a couple of reader emails come in that I'd like to answer, writes Roger Nusbaum, the first being: Do you see EWA to be a reasonable buy at its current level?

Well I suppose that depends on the time frame the reader is interested in. I wrote before, about this, that sometimes I get a feel for a good entry point and I don't have a feeling either way right now in terms of a trade. Sorry, but that is an honest answer. I would have no qualms whatsoever in buying EWA today for a client (for whom an individual Aussie stock was not appropriate) right now as an investment. Long time readers know I am a big believer in in some expousre to commodity based stock markets. The goal here is a type of diversification that doesn't come as easily by owning the EMU countries.

One of my favorite technical analysts is Bill McLaren. He comments almost every week about Australia on CNBC Asia. You can click here to read his latest comments about the ASX 200. And again for disclosure I own EWA.

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