Markets have finally cracked

Well as much as I hate to say it the Emerging Markets have finally cracked. Colombia has lost 3% in a week and Mexico has lost 7% in the last month. clearly the Shine has come off these markets. I have cut back on mosty of my risk, but I am not willing to go aggressivly long dollars at this time. I am currently Long Usd/Clp against short Usd/Cop. Not a very pretty picture. But I think that Chile should catch up of Colombia has gone to far to fast. We will see I guess.

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