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Turkey update – Your next move

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Turkish ( TUR , quote ) demonstrations continued throughout the country on a smaller scale but the next move to watch is that of Prime Minister Erdogan who needs to step back from his hard stance.

[caption align="alignright" caption="Kasaba, Turkey"] Image courtesy Erich Fredinand: http://www.flickr.com/photos/erix/ [/caption]

There are some expectations tomorrow Erogan may soften his stance after formal requests from protest groups to spare Taksim Park were logged yesterday.

The AKP party has sent out a tone of compromise which would be impressive, but I expect the mood to remain tense and near term rallies to be sold.

If I'm a long only account sitting in Boston (i.e.: biggest conservative long only money managers in the world), and I am still very long Turkey and have profits galore, why do I need to ride through this uncertainty?

Bottom Line: Turkey should be bought but just not here and just not yet.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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