Economic reform isn't going as well as hoped, the Brazilian bubble is popping. Note that their market hit ATH, it looks like a double top due to currency exchange rates.
EWW whipsawed on it's way down last summer, expecting the same here. Short any pops up, watch both iBov and USD/BRL exchange rates.
Komen
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Brazil market tends to track gold prices, with no inflation and no interest rates, I expect gold to fall as well.
Komen
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Can't short anything in this market, taking the small profit and leaving
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Flipped some puts today for a decent gain, done for the day.