First, a caveat. This week’s Global Bull Market Alert pick is pure speculation — the kind that sends shivers up the backs of hedge fund managers and stock jockeys throughout the world.
Time to take triple-digit percentage profits!
Global markets have performed surprisingly strongly over the past five trading days — that is, until yesterday’s sharp, early sell-off that dented the sentiment. Both Latin American cell phone giant America Movil (AMX) and last month’s pick, Millicom International (MICC), hit record highs over the past week. America Movil is now the top performer in our portfolio, up 14.39%.
France woke up on Monday morning with Nicolas Sarkozy as its newly elected president.
Vimpelcom (VIP), our Russian cell phone play, has powered ahead 7.23% during the past nine trading days.
After four strong weeks, many global markets sold off in the first half of this week. European markets, however, continue to perform strongly. The Swedish ETF (EWD) advanced 1.6% over the week and is now up 14.73% since our initial recommendation. Latin American cell phone giant America Movil (AMX) is up 8.32% and U.K.-based holding Tesco (TSCDY) is showing a solid 8.96% profit during the last six weeks.