Condor Options

Emerging Markets May Be Due for a Rest

While the broad market rally since March 2008 has been breathtaking, returns over the same period in emerging market stocks have been even more significant: EEM, the ETF that tracks the MSCI Emerging Markets Index, is up 42% from its low on March 2nd versus a 29% return for the S&P 500 over roughly the same period. The chart below plots the 50-day moving average of the daily logarithmic return of EEM, subtracted from the daily logarithmic return of SPY. …