This afternoon I decided to buy a modest put position on the Brazil ETF (EWZ), buying the Mar 60 puts at a premium of $2.30. Emerging markets have really begun to fall apart, and although Brazil had been hanging tough, it broke through some key technical levels today and has made a sharp downside move on accelerating volume this week. Now that the Russell 2000 is in bear market territory, I expect Brazil to come under increasing pressure […]

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