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The Russian Stock Market lost almost -6% of its value today, and now the RSX is chasing its consensus momentum ETF friend in Brazil (EWZ) down to the bottom of the July performance barrel.

These levered plays on commodity inflation are down -21% and -22% since mid May, when we made our "Fading Fast Money" call (see chart).

It may be time to call your broker and ask them what exactly resides within these ingenious ETF instruments.

KM
Charts by Andrew Barber, Director - Research Edge, LLC