Emerging Markets, Bank Of America & Trappist Beer

I read a report earlier today that was very bullish for emerging markets. It mentioned the negative correlation between food prices (going down) and emerging market stocks.

As I look at the tape, emerging market ETFs are being crushed. Ishares Brazil (EWZ) is down 3%, Market Vectors Russia (RSX) is down 4% and the EEM, the emerging markets barometer is down 3.3%. Lots of red in that space.

I am also looking at Bank Of America (BAC). My conviction is that it will not print new lows. I think the bottom is in. The stock is down hard today, trading at 5.57 vs. the low of 5.02.

I will leave you with a good belgian beer to taste later today if you have the chance. Meet Chimay`s trappist beers**,

**Chimay Brewery ("Bières de Chimay") is a beer brewery in Chimay, southern Hainaut, Belgium. The brewery is located in the Scourmont Abbey, a Trappist monastery, and is one of the seven breweries worldwide that produce Trappist beer.

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