Swiss Beats: Nestle Could Drive Switzerland ETF

Nestle

, the world's largest food company, said revenue for the first nine months of the year jumped 6.1%, beating the consensus estimate of 5.6%. Not surprisingly, the company attributed much of the growth to emerging markets such as China and Russia. Since Nestle American despositary receipts trade on the Pink Sheets, the best way to play this earnings report may be with the iShares MSCI Switzerland Index Fund

. EWL is the ETF that offers the biggest exposure to Nestle and the exposure is indeed large as the maker of Kit-Kat bars accounts for over 21% of EWL's weight. EWL is already trading close to a 52-week high, but if it closes above the psychologically important $24 area, the ETF could rally another several dollars before bumping into resistance. For a swing trade, put stop just below $23.