(a) RSX (Russia) off another -1.7% today to 18.35 (-15% since mid-November), a 5-year low. Opening a position here.
(b) EWZ (Brazil) has pulled back to 38.82, very near the February lows. Opening a position here.
(c) China has been on a tear. It’s highly likely we’ll see the Shanghai Composite test 3000 in the near future, a level last printed in early 2011. A 3-4 year ‘base’ in the 2000-2500 range offers decent support for a launch.
(d) Will likely open a position in RYWVX (Rydex 2x Emerging Markets) at the 1030 est window.