During elections for paid tab blogger position, I wrote a story for a Model Portfolio and a further update on Brazil (EWZ.) I mentioned that EWZ was doing a bull flag and that it was a strong buy @ $92 ish.

Well, I hate to say that I round tripped the MF. That was my mistake for thinking like an investor vs. a trader in a volatile mkt {sic}. It went to $102 and is now sitting at $91ish.

I still believe in my original thesis, however the rest of the world is beginning to raise rates to combat inflation.

The emerging markets and the emering emerging markets still hold better real rates of interest, and with inflation waging runaway tendencies I still feel these are great places to invest.

As for EWZ I will buy more on a break above $93.04 on a closing basis for at least 2-3 days. If however it continues the recent downtrend then we should see it hold $90.01 on a closing basis. If it Breaks $87.60 on a closing basis I will have to stop out of the issue.

GLT

by GW

Trader Note: “GW” buys TSO @ $22.68…