Portfolio Review: EM’s Back From the Dead!
Europe is breaking out, miners are running, and bonds? Still trash.
Markets move in cycles. Themes rotate. And if you’re serious about compounding, you can’t marry a sector or a story. You need to be ready to pivot — from commodities to crypto, from gold to tech, from EM to banks — wherever the flows and relative strength point.
That’s how we run the portfolio. Let’s walk through the charts driving our positioning right now.
1. Emerging Markets ($EEM)
Emerging markets have been left for dead for over a decade. But look at this breakout: clearing multi-year resistance and running toward $50. Breadth across EM is widening, and flows are shifting global. This isn’t noise — it’s rotation.
2. Poland ($EPOL)
One of the cleanest relative strength setups in global equities. After years of being ignored, Poland has smashed through resistance and hasn’t looked back. It’s not just a local story — it’s tied to European growth, cyclicals, and capital rotation.
3. Energy ($XLE)
Energy has chopped sideways for months, but now $XLE is pressing 100-day highs. Add to this the CRB Index coiling in a generational Bollinger Band squeeze, and you’ve got the setup for energy to lead the next cycle.
4. Gold Miners ($GDX)
Miners aren’t just confirming gold’s move — they’re leading. $GDX has broken through a decade-long resistance band and is running toward new cycle highs. This is exactly the kind of confirmation we want to see in a precious metals cycle.