Italy Has A Problem
Italian banks have major exposure to Turkey. Also, Italy threatens to drag the EU under. The Italians are not as docile as the Greeks – they do not care for whatever rules Brussels attempts to impose on them.
Thus, my next target for capital flight is Italy . My first target is the 2016 lows. Should a bounce materialize, I will be confident in shorting it. For now, I’m short from within the flag.