Ishares Msci Brazil Index Fund (EWZ-N)

It is moving in a range. It is close enough to the bottom of the range and he is tight with discipline. If it breaks its support level and stays there for a number of days, then he will sell.

Will continue to own. Has great chart and trend lines. 

If you were to go back multiple years, you'd see a pattern that has a lid and a floor. There's a pretty strong layer where we are right now. He's traded this multiple times, and he's doing it again.

When oil moves back up again in the winter, which it often does, this ETF with 22% oil & gas should too. Remember that if it breaks support, get out. Don't get emotionally wrapped up in the trade.

(A Top Pick May 3/17, Up 14%) He took a 3% position. Sometimes these things don’t work out. You had a broken downtrend.

(Top Pick May 3/17, Down 10%) His picks are always month by month. Brazil was moving nicely and then suddenly unpredicted political chaos happened. It will probably move back to the support level of $34 and he will say goodbye at that point. He is going to move on.

The chart shows a long downtrend from 2014, followed by a base and then an uptrend. It is now pulling back slightly and testing the trend line, and thinks it will go up for a little bit. This is going to be a trade.

The election has happened and the incumbent stayed in power. The Brazilian economy has been tough. The initial knee jerk reaction happened right after the election. There was not a new leader in place to take on the challenges and put forward economic reforms, so he would not be positive on investing in this today.

Some problems in Latin America. Two economies are stressing. Military brought in to retail stores because of inflation challenges. EWZ has huge exposure to several miners. It is not the best way to play it. There are smaller and mid-cap ways to play it. BRF might be a good one. As Fed begins to taper, he recommends waiting on Brazil.