EWZ (Brazil ETF) has rallied higher than I had initially expected ! I am happy to see today that some investors with some common sense have hit the sell button on EWZ ! I don't usually show charts with volume bars, but today is worth the exception ... If you think that EWZ has rallied too far too fast BZQ(Double short EWZ) is the way to go ! I'm not sure that EWZ can sustain these gains if the SPY tops out and falls into 2010 ! Stay tuned !
See that little microscopic green square on the EWZ chart ? This is your upside potential. The red square is the downside potential in the next two years. Keep selling EWZ(Brazil ETF) on strength. For those who wish to short , there is an Ultra short Brazil ETF (BZQ). Be careful though, as the topping process in EWZ is still in its early stages.
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