Let us review my post two weeks ago. At that juncture the market had fallen 6-7% in the month of March. I said the US market was okay and to not worry about a further pullback. Since then the US market has rebounded back to its highs.
I also noted that Brazil and Easter Europe were breaking out. This last week the Brazil ETF we invest in rose 8%. Not bad for one week. Easter Europe increased 5.5% this past week.
What are the predictions going forward. The are several emerging markets looking good. They include India, Indonesia, and Thailand. I would wait for a small pullback to buy some shares of these markets.
We continue to like commodities and markets that are commodity plays such as Russia and Canada. We like the US and high yield assets such as REITs and High Yield Corporate.
We believe the middle of May will be a good juncture to take some money off the table as the US stock market is poised for a bad month. We will provide more detail when that time comes.
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