For the last two weeks our BFIA measures had been bearish on the global financial markets. Our long-term view is long. We have been seeing similar dynamics to the May Flash crash dynamics. It has been two weeks since we first sighted that similarity and it had played out as we thought. Going forward we believe it will continue to follow those dynamics which means this week will be an up week and next week will be a down week. We have already covered our short position.
The markets we like continue to be the following:
Indonesia, Malaysia, South Africa, Mexico, and Chile.
We have decreased out exposures to India and Turkey. We did that before the large decreases in shares prices of those ETFs.
No hedge for the week. To see if we should hedge next week tune in next week.
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