The Lazy Man is long EEM as of Friday’s close based on 2 out of 3 two day bar signals. Its actually been a toss up between TLT and EEM but the mean reversion possibilities for EEM ultimately edged out an essentially neutral forecast for TLT. This is tough market to be overweight on the long side lately and OpEx week looks like it could be a volatile one. Between the Libyan civil war and the Japan catastrophe the global situation is characterized by increasing uncertainty (and risk). That being said, both SMH and XLB are oversold and poised to lead a return to the green if and when the markets stabilize.
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