I mentioned yesterday that I went short with a “medium” position. This morning I’ve added to the index funds in the RUT only. I also bought TWM and EFU (2x inverse MSCI etf). The EFU is a play on the strengthening dollar. If the US dollar strengthens, the emerging markets will go down. The weak US dollar was the primary reason for the emerging market trade during the runup. That trade has reversed very badly. EFU has the potential for a breakout in the next week or so as does the US dollar.

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