Editor's Note:

The sell-off today was pretty ugly. Breakdowns under support were pretty common. Aggressive traders looking for a little more volatility may want to check out EEV and EDZ as leveraged ETFs on the emerging markets. If the commodity trade is truly broken then these could see pretty big moves.


NEW BEARISH Plays

iShares Mexico - EWW - close: 34.92 change: -1.33 stop: 37.05

Why We Like It:
There are a number of reasons to be worried about Mexico. If oil is going to correct then the Mexican market could decline sharply. The Mexican government depends on its oil exports. Secondly, we're approaching earnings season. The outbreak of swine flu may have taken a huge toll on Mexican businesses. I'm suggesting readers open bearish positions on the EWW now. An alternative entry point would be a new low under $34.50 or a failed rally under $36.50. Our target is $30.25. Traders need to be aware of the 100-dma and 200-dma, which might offer some support.

Annotated chart:

Entry on      June 22 at $34.92 
Change since picked:     + 0.00   			
Earnings Date          00/00/00 
Average Daily Volume:       3.9 million 
Listed on  June 22, 2009