With today's move in EMFX, and particular dollar strength...it's time to leg back into EM exposure. One EM exposure we like is Brazil. EWZS, the Brazilian small cap ETF, is sitting at it's lower Bollinger band on the daily chart, as well as approaching a cluster of EMAs. I'd leg into a small position here.
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We will take some of our position off the table here. We got a nice bounce in BRL, but momentum isn't too strong. We will watch and wait accordingly.