Remember EDZ?

EDZ has been a long time favorite, it's a leveraged short on Emerging Markets that were damaged enormously as a result of QE1/QE2 where the United State's main export to them was inflation. This is a trade similar to SRS, GREAT potential, but needed to set up a bit more.

Last night in a surprise move, Brazil cut its overnight lending rate from 12.5% to 12% amid a tightening cycle because of the hot money flows from QE. The reason, deteriorating economic conditions for one of the BRIC emerging markets.

Good things come to those who wait....