Emerge then Submerge?

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A worldwide rally. Lifetime highs on almost all important U.S. stock indexes. Turkey is a faded memory, and any moment now, China could announce they are best-trading-buddies-ever with the U.S. sending the Dow 500 points higher instantly.

Even with all that, I want to quietly point out that the emerging markets, for the entirety of 2018, have been faking out traders on a regular basis. My view is that the latest rally is just another head-fake. (“Fool me once, shame on you. Fool me seventy-three times, shame on me………”)

I remain quite conservatively positioned, however, with only 135% of buying power being used spread out among 36 positions. Quite recently, it was more than double that on both counts.

Oh, I also just saw this tumble across my Twitter feed, which made my day. If you haven’t already, please consider buying my book! It’s available in black and white, color, and even Kindle (which is super cheap). If you can swing it, the color one is the best experience.

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