The bear rally in Gold (GLD, quote) disguised as some form of new structural rally for the yellow metal looks ready to break back below $1300 as US growth continues to show strength and the Fed cannot pullback from their course.
Today is the 18th day of 21 days where Emerging Market equities have outperformed the SPX.
We said 52K on the Ibovespa was a place to take profits.
Bear market rallies are dangerous and deceiving.
On March 7th we propped Televisa (TV, quote), Mexico’s media giant owned by Carlos Slim as a trade to look past regulatory pressure, as a trade to look past the regulatory pressure coming from the state who demanded that they open their network to more competition.
On March 13th we pitched the trade to buy copper miners on the drastic pullback in spot copper prices.
We endorse a look at Chile and outline why the country is one of our top OW markets.