EEM has been bid since Gundlach’s comments from the SOHN late yesterday, where

he revealed his latest trade Long EEM/Short Spy.

This is a value trade where he expects the rest of the world to play catch up to the U.S.

EEM & Germany are doing well this A.M.

Those trading U.S. instruments should wait for New York to come in before getting involved.

A few of you sent me notes that you shorted the Euro. Lower your buy stops to above yesterday’s ORL @ 109.48 cash.