I for one would like this trend to continue:
I've said it before and I'll say it again. This recent run-up in emerging markets is absolutely ludicrous. A lot of less developed economies depend heavily on exports of natural resources to get hard currency for development. With the developed world in recession, the main driver of emerging markets' revenues lately has been China's quest for resources. That stimulus won't last forever.
I have nothing against emerging markets, but I need them to be affordable before I can go long. Maybe soon I'll get my wish.
Oh, before I forget, insiders were bailing through this head-fake rally while suckers were jumping back in. Maybe I'll get some large-cap action on sale too. The end of summer may be just the right time for me to buy something.
Nota bene: Anthony J. Alfidi is short uncovered call options on VWO.
Stocks of developing nations fell, dragging the MSCI Emerging Markets Index down 10 percent from its 2009 peak, and oil approached a similar decline, on concern the recovery will be weaker than economists forecast. The yen rose for a third day against the dollar.
I've said it before and I'll say it again. This recent run-up in emerging markets is absolutely ludicrous. A lot of less developed economies depend heavily on exports of natural resources to get hard currency for development. With the developed world in recession, the main driver of emerging markets' revenues lately has been China's quest for resources. That stimulus won't last forever.
I have nothing against emerging markets, but I need them to be affordable before I can go long. Maybe soon I'll get my wish.
Oh, before I forget, insiders were bailing through this head-fake rally while suckers were jumping back in. Maybe I'll get some large-cap action on sale too. The end of summer may be just the right time for me to buy something.
Nota bene: Anthony J. Alfidi is short uncovered call options on VWO.
